HYDROGEN ENERGY TECHNOLOGIES, INC., A SEPARATE COMPANY CONTROLLED BY GEORGE COATES, HAS BEEN ENGAGED IN AN R&D PROJECT TO POWER CSRV® ENGINES AND GENERATORS.
THE TECHNOLOGY UTILIZES GASEOUS HYDROGEN (H2) THAT IS HARVESTED FROM WATER BY THIS NEW TECHNOLOGY , WHICH IS INTEGRATED INTO THE GENERATOR - ESSENTIALLY ELECTRIC POWER IS BEING PRODUCED FROM WATER, WHICH MAY HAVE IMPORTANT FUTURE IMPLICATIONS - (SHAREHOLDERS’ UPDATE)
Wall Township, NJ, Sept. 11, 2018 (GLOBE NEWSWIRE) -- For Immediate Release: Coates International, Ltd. (OTC PINK: COTE) (the “Company”): Hydrogen Energy Technologies, Inc. (“HETI”), a separate company controlled by George Coates, has been engaged in R&D for the past four years developing H2 reactors. The project goal is to power CSRV® engines and generators with gaseous hydrogen (H2) that is harvested from water by this new technology, which is integrated into the generator. HETI has successfully run CSRV® engines on hydrogen and is currently working on the final stages of the H2 project:
● Future plans: Coates International, Ltd. will manufacture the CSRV® H2 power units.
● HETI will license the H2 system technology to the Company and receive royalties on every unit sold or leased.
● The Company is currently considering a new manufacturing plant for its production operations; updates will be forthcoming.
● Negotiations with China for manufacturing and distribution are continuing. Mr. Xoshi “James” Pang is in the USA now and is handling all documents and discussions with the Chinese.
● Company president and CEO, Mr. George Coates, comments: “We know that the CSRV® engines operate successfully on H2 gaseous Hydrogen because we have engines running on H2 now. HETI is working on expanding the H2 system technology capabilities for commercial and industrial applications.”
● In addition to being a qualified U.S. government contractor, the Company has become an approved state vendor in the State of Florida.
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.
Contact Information: Coates International, Ltd. Phone: 732-449-7717 Fax: 732-449-0764 www.coatesengine.com www.mostadvancedengine.com
