Mr. Jack Perkowski, a Director of Coates International, Ltd., provides insight into the economy and stock market in China.
THE $100,000,000.00 USD LICENSE AND MANUFACTURING DEAL WITH RENOWN POWER INC. HONG KONG AND COATES POWER INC., LTD. IS ON. COATES INTERNATIONAL, LTD. EXECUTIVES RETURNED FROM THEIR HIGHLY SUCCESSFUL THREE WEEK VISIT TO CHINA.
UTILIZING ENERGY FROM THE SUN – FOR CENTURIES SCIENTISTS AND PEOPLE AROUND THE WORLD HAVE BEEN DREAMING ABOUT USING THE MASSIVE ENERGY FROM THE SUN TO SUPPLY THE POWER WE CONSUME ON EARTH – WELL THAT IS EXACTLY WHAT COATES INTERNATIONAL, LTD. AND SECURE SUPPLIES LLC ARE NOW WORKING ON TOGETHER – THE PRODUCTION OF GASEOUS HYDROGEN FROM THE SUN’S RAYS AND FUELING COATES CSRV INDUSTRIAL ELECTRIC POWER GENERATORS WITH THIS HYDORGEN, TO GENERATE SEAMLESS, CONTINOUS ELECTRICITY – THIS IS BELIEVED TO BE THE MOST “GREEN ENERGY” PROJECT OF ITS KIND IN THE WORLD (SHAREHOLDERS’ UPDATE)
Wall Township, NJ – (Globe Newswire – April 26, 2017) For Immediate Release: Coates International, Ltd. (OTC PINK: COTE) (the “Company”) is pleased to announce that our projects are moving forward. The first industrial V12 QST 30-G4 engine for the hydrogen technology was delivered to the Coates plant in New Jersey. Pictures can be viewed on the company website: www.coatesengine.com.
Company President and CEO, Mr. George J. Coates, comments: “Scientists around the world have been dreaming about tapping into the sun’s energy to produce electric power on earth. That is exactly what we are working on now. Harvesting hydrogen from the sun that can be used to fuel Coates CSRV industrial electric power generators. We believe this will achieve the highest form of environmental “green energy” technology of its kind.
The Coates CSRV engines are most suitable to operate on gaseous hydrogen because there are no hot spots in the combustion chamber and valve overlap is not required because the volumetric efficiency is more than enough to charge the cylinders. Conventional poppet valve engines will not work because the exhaust valve gets red hot and causes hydrogen to detonate (so-called pre ignition). Poppet valves require larger overlap, which means exhaust and inlet valves are open at the same time. This also causes hydrogen to detonate and backfire.
Gaseous hydrogen is normally highly volatile and, may detonate easily, without proper safeguards. Here, at Coates headquarters, we have developed proprietary technology over the past year to integrate the proper safeguards with our CSRV technology, enabling the gaseous hydrogen to be used safely as the main fuel source. Patent protection will be applied for in the near future. The Coates CSRV engines were designed to operate on almost any engine fuel type and are particularly well suited to operate on gaseous hydrogen.
We have received inquiries regarding large volumes of shares being traded on the open market. Other than shares issued upon conversion of promissory notes issued six months ago or more, it is not possible to determine any specific reasons for our daily trading volume, because it is not within our control.
Update on activities planned in China: Chinese officials have visited Coates’ headquarters and senior company directors visited China and executed an Exclusive License with Renown Power. The Company has already received a $500,000 deposit and delivered one 150 KW N14 electric generator to Coates Power in China and received a $131,000.00 payment. During the visit by a Chinese delegation last year, top executives expressed that they would put a proposal together for the Coates Company. Mr. James Pang, the Company’s exclusive liaison agent to China to work on this with the Chinese government. The Company is in negotiations for possible solar hydrogen projects in China and certain other countries in the UAE and Far East.
Hydrogen-based ultra “green energy” projects will be beneficial to the environment, contribute to the reduction of global warming and reduce the volume of (CO2), (HC) and (CO) particles being introduced into our atmosphere, among other benefits. This is consistent with the Company’s mission statement to benefit both the shareholders and humankind.”
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.