SOURCE: Coates International, Ltd.
WALL TOWNSHIP, NJ--(Marketwired - Mar 4, 2014) - Coates International, Ltd. ("the Company") (OTCQB: COTE)
- The Company has already designed and built the COATES CSRV® Retrofit System for certain 18-wheeler heavy duty trucks. Licenses for this application are available to suitable dealerships and other qualified truck engine servicers. The CSRV® system could meet President Obama's recently announced objectives for new lower emission standards and reduced fuel consumption. Furthermore, the CSRV® system can be adapted to enable the truck engines to operate on alternative fuels and mixtures of fuels.
- Phase II of our hydrogen reactor project is progressing well. The second test will take place within approximately two weeks. We have many energy companies interested in this project and a number of new patents will be applied for soon. Only water and/or sea water is needed as the fuel source, which is split into a form of hydrogen gas. The hydrogen gas may be converted into liquid forms by adding other elements to the mix to produce fuel suitable for other applications.
- The Chinese transaction is still progressing. Mr. James Pang is in China negotiating this terms as our representative. A few things that are slowing down the process include: bad weather, the Chinese New Year, and the fact that different regions of China speak different Chinese dialects, complicating translation and communications.
- COATES INTERNATIONAL, LTD. Open House meetings had a good two day turnout. Engines and Gen-Sets were demonstrated, including the COATES Hydrogen Reactor. A number of our original investors and stockholders are now involved in assisting the Company to raise new working capital to commence production here in the USA. We welcome their assistance.
- There are a number of transactions pending here in the USA for our company and we are diligently working on all of them.
- Mr. George Coates our President and CEO comments:
The COATES CSRV® Retrofit Systems for heavy duty trucks could answer President Obama's executive order to lower fuel consumption and reduce harmful emissions from heavy truck engines. We believe this is only possible with incorporating the COATES CSRV® system by retrofitting these trucks. There is no other alternative to achieve his objective for new tough standards to reduce fuel consumption and emissions. To achieve this you must raise engine compression ratios from 14-1 up to 20-1 and increase volumetric efficiency by at least 50% and enable the use of alternative fuel mixtures such as natural gas, CNG-LNG, liquid hydrogen, diesel, and combinations of these fuels. Here at COATES INTERNATIONAL, LTD. we already have these systems in operation. When we retrofit our CSRV® systems to these engines, we eliminate 2,600 moving parts and components from the engine and replace them with only two moving CSRV® shafts that do not require engine oil. Oil change intervals maybe extended to over 50,000 miles. No servicing or maintenance to the COATES CSRV® Retrofit System is required.
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.
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