SOURCE: Coates International, Ltd.

February 09, 2016 11:42 ET

Coates International, Ltd. Stockholders' Update - The Company Is Making Progress on All the Business Activities Discussed Below

WALL TOWNSHIP, NJ--(Marketwired - Feb 9, 2016) -  Coates International, Ltd. (OTC PINK: COTE) (the "Company") is pleased to provide a progress update on the following business activities/projects.

  • The previously announced transaction with a private Chinese-based company is progressing as expected. Two small engines for retrofitting are in transit from China. These engines are the most commonly used engines throughout China. More information on this will be released soon after the units are received;
  • A separate transaction with Chinese Government-owned companies involving the production of industrial CSRV engines in China requires additional time as we await receipt of an incentive proposal from the government of China, which tends to operate more slowly than typically expected. However, this continues to be an active project;
  • The Hydrogen Reactor project engine, switch gears and controls are complete. Two reactors have been designed and built. More information will be forthcoming when our negotiations are further along;
  • The Cummins industrial electric power generator set retrofitting project with the Coates CSRV system is almost complete; we are simply waiting on delivery of certain small parts which are comprised of specialty materials;
  • Coates CSRV electric power generators are almost complete; only waiting on delivery of certain proprietary parts being manufactured; and
  • Over the next week, the Company will be releasing the results of independently performed EPA standard tests that were carried out on a number of Coates CSRV products.

Company President and CEO, Mr. George J. Coates, comments: "We are also working on additional proprietary projects/inventions that cannot be discussed until we apply for patent protection. The Company is steadily moving forward and making positive progress."

Finally, the Company would also like to remind stockholders to include their full name and address when making email inquiries to the Company.

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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