WALL TOWNSHIP, N.J., Oct. 7 /PRNewswire/ -- Coates International, Ltd. (OTC Bulletin Board : COTE ) –Coates International Ltd. (The "Company") is:
- Pleased to announce that the company in conjunction with Almont Energy's Operations Engineer, Bryan Campbell, has been testing a number of Coates CSRV Engine Electric Power Generators at the Coates Plant in New Jersey, for the past three months in anticipation of our CSRV Power Units going directly into the oil fields. During this testing we noticed some green rust on certain components which necessitated certain modifications in the component material. We believe that these changes were necessary in order to accommodate the array of various fuels used to power our CSRV Engines, such as natural gas, propane, digestive gas, landfill gas, sour gas, flare gas, wet gas, and dry gas. These fuels contain acidic gases, including carbon dioxide (CO2), Hydrogen Sulfide (H2S), Methanol (CH3SH) and Ethanol (C2H5SH). Some are extremely corrosive and can damage piston rings, cylinders, liner walls etc. We invested additional time and effort as a precaution to ensure that any related concerns would be properly addressed prior to shipping. Final testing is expected to be completed shortly.
We have received 18 machined head castings and some alterations and further machining need to be carried out on these head castings.
When production engines are starting to be built there are many parts and components to be mass produced, and we believe that it is in everyone's best interests that we are absolutely certain that each component is made to our exact specifications. We obviously intend to order parts and components in economic order quantities in order to minimize production costs. Quality control is vitally important at this critical moment as our success depends on proving our technological concepts and benefits. At this stage, sometimes delivery delays are simply unavoidable. However, management is confident that the company will go into full production of its products, and there shall be more announcements to keep our Stockholders' apprised of our progress.
The Coates natural gas powered CSRV engine design was completed in 2007. We have had other CSRV engines in vehicles registered and driving on US roads for more than ten years without any servicing or oil changes. Our CSRV engine-based motorcycle which was tested in prior years surpassed the emissions standards achieving 50% lower and fuel consumption at 47 MPG achieving 137 MPH. However, we have determined that other markets for our CSRV engine provide more profitable opportunities for us than the motorcycle market, and, accordingly we will not focus our resources on motorcycles until we have entered the other more lucrative markets first.
- We have received four patents in China
- Three more patents in Japan
- Two new patents in the USA
- We have signed a cooperation agreement with China
- The president of one of the largest generator manufacturers in China plans to visit Coates International's Wall headquarters this November to view CSRV Electric Power Generators in operation.
We are receiving large numbers of e-mails and calls from individuals requesting information about the company and its progress. The Company is prohibited from divulging information of this nature to individuals by specific disclosure regulations promulgated by the SEC. Please refrain from calling or e-mailing the company with requests for non-public information. All publicly disclosed information can be found on the SEC's website at www.sec.gov.
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 building the initial production version of its CSRV power units for shipment.
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
Coates International Ltd.
SOURCE Coates International, Ltd.