|By Marketwired .||
|January 2, 2014 01:59 PM EST||
WALL TOWNSHIP, NJ -- (Marketwired) -- 01/02/14 -- Coates International, Ltd. ("the Company") (OTCQB: COTE) -- The President and CEO is to visit China to meet with government officials and business executives from Chinese manufacturing companies involved in establishing mass production operations of the Coates CSRV® products in China for distribution throughout Europe, the Far East, and the UAE. Investments in this project are expected to exceed $1,500,000,000. Many Coates products are to be produced including retrofit kits for many makes of engines including heavy trucks, busses, marine applications and more.
Mr. Coates comments, "A lot of work and time has gone into this project. We must forge ahead as markets are opening up for our CSRV® products. Just think of it, we eliminate 2,700 parts and components of an industrial 6 cylinder engine and replace them with only two rotating CSRV® shafts and 12 floating seals and eliminate the oil service to the head of the engine. On a V12 engine we would eliminate approximately 6,400 components and parts. The production costs of all these parts and assembly is extremely costly but the CSRV® system could be approximately one tenth of the cost. I cannot wait to see the CSRV® systems in production. This is a game changing technology that I believe will revolutionize the combustion engine and generator industry. The Chinese engine expert is to visit our headquarters any day now and I will be visiting China in a matter of days after that."
- Management is working with financiers to get production up and running here in the USA. We expect to get some results this month.
- Phase two of the hydrogen HOH project is progressing. Many new inventions have been created and cannot be divulged at this time until patenting process has been completed.
- Interests in dealership licensing from the oil and gas industry for industrial CSRV® natural gas engines and generators are heating up.
- Here at Coates we would like to wish all our stockholders' a Happy New Year!
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.