SOURCE: Coates International, Ltd.

May 05, 2016 07:00 ET

Coates International, Ltd. Shareholders' Update - Production Heads, Parts and Components Are Being Manufactured for the Coates CSRV Green Engine and Industrial Electric Power Natural Gas Generator Sets That Will Be Assembled in the USA

WALL TOWNSHIP, NJ--(Marketwired - May 5, 2016) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") is pleased to announce the following projects' statuses:

  • The retrofitting of the Coates CSRV green engine technology to a Cummins industrial electric power generator is completed. The unit was fired up and operated flawlessly. The gen set management computer is now to be reprogrammed by a Cummins technician. Process of the project can be viewed on the Company website: www.coatesengine.com.

  • Two diesel engines were delivered to the Coates headquarters and R&D plant from a major Chinese engine manufacturer. The engines are to be retrofitted with the Coates CSRV green engine technology. This project has started. This transaction was introduced to the Company by one of the Company directors, Mr. Jack Perkowski.

  • Heads and components have arrived at the Coates headquarters for the 18 wheeler heavy truck project. This truck will be retrofitted with the Coates CSRV green engine technology and will operate on propane and diesel combined. This project has started. Progress photos of the project can be viewed on the company website: www.coatesengine.com.

  • The major Chinese manufacturing project with Coates Power Ltd. China and Renown Power Ltd. Hong Kong is progressing well. The Company was informed that funding for this project is being arranged. More information will be forth coming on this project.

  • The hydrogen reactor project: the Company has not received progress information from Aqua Power LLC Colorado; however, we expect to soon.

  • Coates industrial CSRV 150 KW natural gas gen sets earmarked for the Far East: parts and components have arrived at the Coates headquarters. This project is approximately 50% done.

  • There are other transactions in the works, which will be announced as they become consummated.

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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