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Coates International Ltd Pursues Joint Venture in Hydrogen Engine Project - Coates International, Ltd. and Coates Hi-Tech Engines Ltd. are pursuing a joint venture with an American power company. This venture is being formed to develop the Coates Spherical Rotary Valve engine powered by a hydrogen gas fuel system
Coates International Ltd Pursues Joint Venture in Hydrogen Engine Project

 

PRZOOM - /newswire/ - Wall, NJ, United States, 2013/09/20 - Coates International, Ltd. and Coates Hi-Tech Engines Ltd. are pursuing a joint venture with an American power company. This venture is being formed to develop the Coates Spherical Rotary Valve engine powered by a hydrogen gas fuel system.

   
 
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Coates International, Ltd. [OTCQB: COTE] and Coates Hi-Tech Engines, Ltd. (the “Companies”) have signed commitment agreement letters with an American power company in Colorado on September 11, 2013, to develop and manufacture industrial water to hydrogen CSRV electric power generators that will be manufactured in the USA.

Management Comments,“We are pleased after a year of negotiations that the Companies have come to an agreement to go forward with this project. We already have the industrial CSRV engines and generators ready to go into production. The second phase with the water to hydrogen H2 reactor will be completed with another company that is involved in the deal. The names of the companies will be divulged when all agreements are executed.”

Mr. Coates comments,“We have engines operating on water split into hydrogen H2 by a Coates water to hydrogen reactor. The second phase of the project has started already and I believe the best possible thing that our Company could do is to join forces with other American companies in this project. There are seven American power companies involved. I feel extremely confident that we have all the components and science for success. I am convinced that this technology could make the USA independent of foreign imported oil, create many new jobs and help boost the US economy. I am looking forward to this challenge. The most abundant power on this planet is contained in water!”

There can be no assurance that the Companies will be successful in any and all of their 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.

 
 
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Coates International Ltd Pursues Joint Venture in Hydrogen Engine Project

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Contact: Derek Spencer - CoatesEngine.com 
732-449-7717 info[.]coatesengine.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Coates International Ltd securities in any jurisdiction including any other companies listed or named in this release.

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