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.
COATES INTERNATIONAL, LTD. RECEIVED OFFICIAL NOTIFICATION FROM SECURE SUPPLIES MEXICO LLC THAT THE SOLAR SYSTEM PROJECT IN MEXICO IS BUDGETED FOR $412,000,000 USD OVER A THREE YEAR PERIOD TO COMPLETION - COATES INTERNATIONAL, LTD. IS TO MANUFACTURE AND DELIVER A NUMBER OF LARGE INDUSTRIAL CSRV ELECTRIC POWER GENERATORS THAT WILL OPERATE ON HYDROGEN - ON SITE REVENUES FROM THIS TRANSACTION TO THE COMPANY WILL BE APPROXIMATELY $40,000,000 USD
Wall Township, NJ – (Globe Newswire – April 19, 2017) For Immediate Release: Coates International, Ltd. (OTC PINK: COTE) (the “Company”) received official notification from Secure Supplies Mexico LLC that the solar system project in Mexico is budgeted for $412,000,000 USD over a three year period. The Company will deliver 40 to 50 CSRV large industrial electric power generators to operate on gaseous hydrogen produced on site.
Company President and CEO, Mr. George J. Coates, comments: “This is only one of the projects that our Company is involved in with Secure Supplies. These projects work in the following way: Secure Supplies set out on the site where hundreds of solar panels are erected producing electric power and producing hydrogen, which is stored in special expansion tanks. When the sun goes down, the Coates CSRV electric power generators fire up operating on the stored hydrogen, which is produced by the sun. These CSRV generators are synchronous and only produce the power required at any given time up to 50 M.W. These are the most “green” projects ever. These projects are many worldwide. Coates CSRV engines are the only engine suitable to operate on gaseous hydrogen continuously.
“Management believes this is a turning point for the Company that will benefit all involved.”
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.