COATES INTERNATIONAL, LTD. AND COATES HI-TECH ENGINES, LTD. SIGN COMMITMENT AGREEMENT LETTERS WITH AN AMERICAN POWER COMPANY TO DO A JOINT VENTURE OF THE WATER TO HYDROGEN H2 PROJECT. THE COATES INDUSTRIAL CSRV ELECTRIC POWER ENGINES GENERATORS WILL BE USED IN THE HYDROGEN PRODUCT. THE COATES ORGANIZATION WILL MANUFACTURE THE COMPLETE WATER TO HYDROGEN ELECTRIC POWER GENERATORS.
WALL TOWNSHIP, N.J., Sept. 12, 2013 /PRNewswire/ -- Coates International, Ltd. (OTCQB: COTE) –Coates International, Ltd. and Coates Hi-Tech Engines, Ltd. (the "Companies") have signed commitment agreement letters with an American power company in Colorado on September 11, 2013 to develop and manufacture industrial water to hydrogen CSRV electric power generators that will be manufactured in the USA.
Management Comments, "We are pleased after a year of negotiations that the Companies have come to an agreement to go forward with this project. We already have the industrial CSRV engines and generators ready to go into production. The second phase with the water to hydrogen H2 reactor will be completed with another company that is involved in the deal. The names of the Companies will be divulged when all agreements are executed."
Mr. Coates comments, "We have engines operating on water split into hydrogen H2 by a Coates water to hydrogen H2 reactor. The second phase of the project has started already and I believe the best possible thing that our Company could do is to join forces with American companies in this project. There are seven American power companies involved. I feel extremely confident that we have all the components and science for success. I am convinced that this technology could make the USA independent of foreign imported oil, create many new jobs and help boost the US economy. I am looking forward to this challenge. The most abundant power on this planet is contained in water."
There can be no assurance that the Companies will be successful in any and all of their 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.
Coates International, Ltd.
SOURCE Coates International, Ltd.
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