SOURCE: Coates International, Ltd.

March 01, 2016 07:00 ET

Coates International, Ltd. - Shareholders' Update and Overview of the Company's Current Projects

WALL TOWNSHIP, NJ--(Marketwired - Mar 1, 2016) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") plans to keep our shareholders informed of our current projects and their progress. The Company is successfully moving forward at a good pace on all of the following projects and transactions:

  • The retrofitting of Coates CSRV system green technology to a Cummins 250 KW industrial natural gas electric power generator set; this project is approximately 80% complete -- progress pictures will be placed on the company website;
  • The Company's part in the industrial hydrogen reactor project on a 150KW electric power generator that is to operate on water as its sole fuel converted into Hydroxyl gas by a reactor is complete; a number of companies are involved in this project -- photos of the complete project are posted on the Company website;
  • Two 150 KW industrial natural gas electric power Coates CSRV generator sets are approximately 60% finished and are scheduled to be shipped to customers in the far east who have already paid the Company in full for these products;
  • Retrofitting the Coates CSRV system green technology to a heavy duty 18 wheeler tractor/trailer -- this project is approximately 60% completed -- photos of the progress will be posted on the company website;
  • Two air-cooled industrial diesel engines from a major Chinese manufacturer to be retrofitted with the Coates CSRV system green technology will begin as soon as these engines arrive at the Coates headquarters;
  • A turbine engine to operate on Hydroxyl gas derived from water by the Hydrogen Reactor process -- the turbine engine is at the Coates headquarters - this project has not started yet;
  • Another future project includes the Coates pulse detonation rocket which will operate on Hydroxyl gas derived from water; and
  • A number of licensing and business transactions are in process -- as these transactions become completed -- they will be announced.

Company President and CEO, Mr. George J. Coates, comments: "Here at Coates International, Ltd. headquarters we have a very small staff and most of our parts and components are outsourced. The total employees, including directors, is nine. We have numerous new inventions and technologies in the process that prevent us from taking on more staff for building engines. A number of new patents are being applied for presently. The Company is looking for a suitable assembly plant where we could more efficiently produce the Coates CSRV products in larger quantities. The Coates headquarters serves as our R&D center and we intend to keep it that way. We are pleased with our progress and expect certain projects to be completed in the not too distant future."

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.

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