WALL TOWNSHIP, N.J., Oct. 12, 2017 (GLOBE NEWSWIRE) — Coates International, Ltd. (OTC PINK:COTE) (the “Company”) was informed that Mr. James Pang is working with the Shanghai Government to establish a Coates industrial park for the manufacturing of the many Coates CSRV® products such as industrial electric power generator sets that operate on flare-off gas, CNG, LNG, butane, propane and hydrogen H2. (150 K.W.), (200 K.W.), (300 K.W.), (500 K.W.) and (1 M.W. V12 units) (35 K.W. stand-alone propane gen-sets), marine engines of all sizes and various other Coates CSRV® products manufactured in China for distribution throughout the Eastern Hemisphere. The Chinese are considering a visit to the Coates headquarters in the USA.
Company President and CEO, Mr. George J. Coates, comments: “When dealing with governments, projects take much longer. However, the first production CSRV® industrial natural gas electric power generator manufactured by Coates International, Ltd. USA was sold to the Chinese for $156,000 USD and paid in full when it was delivered to China and demonstrated there. The Chinese came back and put a $500,000 USD deposit on a $100,000,000 USD exclusive license for the territory of China and the Eastern Hemisphere.
“Progress is being made with the Chinese now and meetings are to be scheduled.”
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.