NEWS PR- COATES INTERNATIONAL, LTD. IS FINALIZING A CONSTRUCTION CONTRACT FOR THE COMPANY’S NEW ASSEMBLY PLANT TO BE BUILT ON A PARCEL OF COMPANY-OWNED LAND --- SHAREHOLDERS’ UPDATE
Wall Township, NJ, June 12, 2018 (GLOBE NEWSWIRE) -- Coates International, Ltd. (OTC PINK: COTE) (the “Company”) is pleased to announce that it is finalizing a construction contract for the Company’s new assembly plant. Company management plans to execute this agreement, shortly after completion of final legal review.
SHAREHOLDERS’ UPDATE
- The China-based transaction continues to slowly progress. Mr. James Xoshi Pang, the Company’s liaison in China, has returned to the U.S. and is working to finalize documents and prepare an updated manufacturing and distribution business plan for the Chinese principals.
- The Hydrogen project, with a goal of harvesting Hydrogen fuel from water to power the Company’s CSRV® engines, is advancing at a good pace. Tests are expected to start within the next several weeks. Achievement and goals of this project would likely cause a pervasive change in the electric power generation industry.
- A prospective new project may be starting up to develop prototypes for CSRV® aircraft engines. More information on this will be forthcoming soon.
