Coates International Prepares For First Delivery Of Engines
WALL TOWNSHIP, N.J., April 28 /PRNewswire-FirstCall/ -- Coates International, Ltd. (OTC Bulletin Board: COTE), a developer of a patented spherical rotary valve engine is pleased to announce that the delivery of its first shipment of generator sets to its customer, Almont Energy, Inc. ("Almont") is planned for the second quarter.
Details Regarding Generator Sets:
Initial generator sets will be the Coates Natural Gas Industrial Electric Power Generator employing an 855 cu. in. inline 6-cylinder engine equipped with the patented Coates Spherical Rotary Valve ("CSRV") system technology.
The Coates Spherical Rotary Valve System represents a revolutionary departure from the conventional poppet valve. It changes the means of delivering the air and fuel mixture to the firing chamber of an internal combustion engine and of expelling the exhaust produced when the mixture ignites. The "Coates" system utilizes spherical valves which rotate in a cavity formed between a two-piece cylinder head. The valves include channels which connect to the intake and exhaust passages. Advantages of the CSRV system technology include improved fuel efficiency, ultra low levels of harmful emissions, longer engine life expectancy and longer intervals between scheduled engine maintenance.
George J. Coates, CEO and President of Coates International Ltd., stated, "After more than 15 years of development it is with great pleasure and satisfaction that we are able to deliver our generator sets. Although we initially expected delivery in April, certain very complex CSRV parts and accessories took some time to be completed and delivered to us. The first shipment of generator sets to Almont will be in Q2, ready for installation with Almont's end users."
Coates International Ltd. (CIL) was formed for the purpose of researching, patenting and manufacturing technology associated with a spherical rotary valve system for internal combustion engines. This technology was developed over a period of more than 15 years by Mr. George J. Coates, who is the President and Chairman of the Board of CIL, together with his son Gregory Coates. Since founding CIL, George Coates has secured numerous United States patents and foreign patents for innovations related to the Coates spherical rotary valve system for the internal combustion engine.
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.
Contact: |
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Coates International, Ltd. |
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Alicia Ansbach, 732-449-7717 |
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Investor Relations |
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Andrew Barwicki |
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516-662-9461 / [email protected] |
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SOURCE Coates International, Ltd.
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