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.
Xianning City, location of Coates Power Inc., Ltd.
Tuesday - February 24, 2015
INTERNATIONAL, LTD. SIGNS A $100,000,000 USD LICENSE WITH THE CHINESE TODAY
Wall Township, NJ –
(Marketwired – February 24, 2015) Coates International, Ltd. (OTCBB: COTE) (the
company has executed a $100,000,000 USD License Agreement with the Chinese
and CEO, Mr. George J. Coates, comments:
“It has taken some time to get to this point with the Chinese regarding
translations and various details.
Involved in this deal are Coates Power Ltd. China, Renown Power Inc. Ltd.
Hong Kong, China and the Government of The People’s Republic of China. A Coates CSRV electric power natural gas
gen-set was shipped to China in December, 2014, for demonstration and testing
purposes. The CSRV gen-set operated
flawlessly on numerous runs under full load conditions. Sets of CSRV heads and parts and components
are now being readied for shipment to Coates Power Ltd. China where the first
Coates CSRV 150 KW electric power natural gas generator will be built in
China. Coates technical staff will be
traveling to China to instruct the Chinese on how to build and assemble the
CSRV engines and generators. Technical
specifications will be supplied to ramp-up production in China.
separate Engineering Agreement is being drawn up for Coates International, Ltd.
to assist in the start-up of production in China.
is one of the best moves Coates International, Ltd. could have made to get into
production in the fastest possible time frame.
This license gives the Chinese
the rights to distribute CSRV products made in China throughout the Western
can be no assurance that the Company will be successful in any of its
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.