|By Marketwired .||
|October 16, 2013 12:05 PM EDT||
WALL TOWNSHIP, NJ -- (Marketwired) -- 10/16/13 -- Coates International, Ltd. ("the Company") (OTCQB: COTE) -- The Company is pleased to announce that the Coates hydrogen H2 reactor tests have been extremely successful. These tests were carried out on October 12-15, 2013. Coates is in contract with an American power company in Colorado to build an industrial electric power hydrogen H2 CSRV generator. Joint venture agreements are to be drawn up as soon as the final testing of the H2 product is completed.
- At the meeting with an executive from the UAE on Monday, October 7, 2013 the Company was presented with a certificate from the Saltus Jordan for its participation and appreciation issued to Coates International, Ltd. for The Rebuild Libya Forum which was held in Amman Jordan and attended by the new Libyan interim government. The presentation was made by Mr. Howard Barmil, Executive Liaison Agent to the UAE and the Libyan government, on behalf of Coates International, Ltd., offering our services to rehabilitate damaged power stations and building new electric power station incorporating the Coates CSRV natural gas power generators. The Saltus is the Jordan semi government organization which was answering his Majesty's, the King of Jordan, call to hold this forum in Amman Jordan. When a company receives such a certificate it means that it is recognized as an elite and strong candidate to participate in the projects of rebuilding the electric power stations and substations throughout the UAE. The Company already received orders for its products from the UAE worth up to $57,000,000 USD.
- China - The Company has executed preliminary agreements with the Chinese Government to establish a large Coates industrial manufacturing operation in China to mass produce the Coates CSRV products. The Company has also executed Letters of Intent with two Chinese manufacturing companies. These companies will be involved in the operation of establishing the new Coates production plants in China and its day to day production process.
There can be no assurance that the Company will be successful in any of the above 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.