WALL TOWNSHIP, NJ--(Marketwired - Apr 30, 2015) - Coates International, Ltd. (OTC PINK: COTE) (the "Company") the Company directors call the Coates CSRV internal combustion engine the most advanced in the world because we remove and discard 2,700 parts and components out of the standard industrial poppet valve internal combustion engine and replace all these parts and components with only two CSRV rotating assembly shafts with twelve floating seals that operate on the variation in cylinder pressure. The seals operate on a film of pressurized gas; no oil service is required for the system, and no maintenance to the system for the life of the engine.
Incorporating much greater volumetric efficiency.
Incorporating higher compression ratios.
Creating the highest thermal efficient engine.
Operating on flare off gas, CNG, LNG, Hydrogen, Propane and other engine fuels.
The Company is making good progress in establishing production operations here in The United States of America and The People's Republic of China.
Parts and components are being manufactured here in the USA and many have been delivered to the Coates plant in New Jersey.
The deal in China is progressing to establish production operations there.
Some American parts and components, including drawings and prints, will be shipped to China to start production.
There are a number of other deals on the table at the moment under confidential agreements. When completed, news will be released.
Company President and CEO, Mr. George J. Coates, comments: "Management is extremely pleased with the progress we are making. Of course we are running a very tight ship right now and doing much work with a small staff. We have people in China and the UAE at the moment conducting business on our behalf. We are not at liberty to divulge ongoing business until completion.
"I am enthused to see the progress we are making and now is the time for us to press forward even harder to achieve our business goals. A new corporation was established for the production of the Coates products here in the USA, Coates Hi-Tech Engines Ltd., and to ramp-up production, an assembly line has been set up in our New Jersey plant and headquarters. We have received many parts and components and are working on production gen sets in the plant presently. We call our CSRV engine the most advanced internal combustion engine in the world, because there is nothing else out there, only the more than 100-year-old poppet valve engines which are inferior. The Coates CSRV engines are the green engines of the future."
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.