WALL TOWNSHIP, N.J., June 14 /PRNewswire-FirstCall/ -- Coates International, Ltd. (OTC Bulletin Board: COTE) (the "Company") is pleased to announce that the company has signed an agreement with China.
A delegation of Professors and Scientists from China have already visited the Coates International, Ltd. Plant in New Jersey, USA and observed and inspected a number of CSRV engines and generators in operation. After many weeks of negotiations and translations an agreement was arrived at and executed. This will provide for the setting up of Mass production operations in China under a possible Joint Venture structure.
The Chinese are interested in all possible applications and engine sizes with multi-fuel systems of the Coates CSRV Engines.
The Company is in the process of building smaller CSRV engines for shipment to China.
(MORE NEWS COMING SOON.)
About Coates International, Ltd.: Coates has been developing over a period of more than 15 years a patented spherical rotary valve CSRV Internal Combustion Engine invented by George J. Coates and his son Gregory. The CSRV system is adaptable to combustion engines of many types. This technology is currently adapted to a number of practical applications, including industrial generators powered by engines incorporating the CSRV technology and designed to operate on flare-off gas from oil wells, landfill gas and raw natural gas. The Company is actively engaged in preparing for the commencement of manufacturing of products utilizing this technology.
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. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include market conditions, regulatory approvals, and other risks inherent in our operations. For a discussion of these risks and uncertainties, 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.
SOURCE Coates International, Ltd.