|By PR Newswire||
|August 23, 2013 07:00 AM EDT||
WALL TOWNSHIP, N.J., Aug. 23, 2013 /PRNewswire/ -- Coates International, Ltd. (NASDAQ OTCBB: COTE) –Coates International, Ltd. (the "Company") is in talks with certain interested parties to develop an environmentally friendly home generator for distribution through the western hemisphere. This Coates electric power CSRV generator will be a synchronous system that only puts out the power that is required at any given time. The Company is pressing forward with the development of the Coates water to hydrogen reactor regardless, because the Company is receiving calls from individuals to purchase the home generator system.
- Management comments, "We believe that the market is already there for this product and this new development could be the best selling product that the Company will produce. Just think of it":
- Completely no pollution created
- A supply of clean electric power
- Water to hydrogen as the fuel
- The ultimate renewable fuel for the world.
- This product could reduce the country's dependency on imported foreign oil, help boost the economy, and put more people to work.
- All the possible benefits of this new technology are not known yet.
- Mr. Coates comments, "Many researchers are experimenting on hydrogen as fuel but there is nothing on the market that is successful and cost effective. Here at Coates International, Ltd. Research Department we have engines operating on hydrogen split from water. We have started the second phase of R&D on the Coates hydrogen system. I believe we could produce megawatt power with this system. However, we are still in the early stages of this project. A lot of work is still to be done. We have proven that we can use water as a fuel source. When it is split the hydrogen H2 fuel is highly explosive under pressure. We have designed systems that manage the fueling of the gen-sets safely. I believe that the power contained in water has great possibilities for the world regarding global warming, lowering atmosphere emissions and reducing or eliminating the use of fossil fuels."
- The Company is trying to schedule an open house at the Coates facility for its shareholders. Notice of the event will be given as soon as we have a date set.
There can be no assurance that the Company will be successful in any of its endeavors.
Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see our filings with the Securities and Exchange Commission. Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.gov.
Coates International, Ltd.
SOURCE Coates International, Ltd.