Details are sketchy, but apparently this is a "reboot" taking place before the previous films, with female supersoldier Deunan and her cyborg friend Briareos still traveling through a post-war wasteland, looking for the city Olympia. Sounds like a prequel to the previous two films, rather than a reboot, but it can (of course) be both.
As evidenced by the first screenshot seen above, this will once again be a cg-animated film. Aramaki Shinji, who also directed Appleseed and Appleseed: Ex Machina, will take the helm. The production is in the hands of Sony Pictures Worldwide Acquisitions and Lucent Pictures Entertainment, and its release is planned for "this summer".