WALL TOWNSHIP, N.J., Oct. 23, 2007 (PRIME NEWSWIRE) -- Barry C. Kaye, Chief Financial Officer announced that Coates International, Ltd. (OTCBB:COTE) (Coates) has designed and built a new standalone, synchronous electric power generator capable of putting out 25 KW's per hour, which is sufficient to provide the needed power for most residential home applications. Synchronous power allows the amount of power generated to match the amount of power needed and being used at any point in time. The generator is powered by a 4-cylinder water cooled 1,800cc engine incorporating our patented Coates Spherical Rotary Valve (CSRV) technology. The engine is designed to optimally operate at 1,800 RPM's and is propane fueled. It can be readily adapted to run on a number of other fuels including natural gas, ethanol and gasoline, among others. The benefits of this generator over those currently available in the marketplace include low fuel consumption, extremely low and cleaner emissions, coupled with a noticeably lower noise level when operating, all of which is made possible by the CSRV technology. We believe that these features will make this generator an extremely attractive alternative to the generators currently available in the residential market. The Company has received expressions of interest for this generator from interested potential purchasers.
Completion of the final refinements, announced last week to our natural gas powered Coates Spherical Rotary Valve (CSRV) engine for incorporation in industrial electric power generators, has enabled us to resume our focus on finalizing the development of other applications for our CSRV technology that our management believes is likely to generate desirable levels of returns in the markets with the highest opportunities for penetration.
About Coates International, Ltd.: Coates has just completed final refinements to a patented spherical rotary valve CSRV Internal Combustion Engine developed over a period of more than 15 years. The underlying CSRV technology was invented by George J. Coates and his son Gregory. The CSRV system is adaptable to combustion engines of many types. This technology is currently adapted to a number of practical applications, including industrial generators powered by engines incorporating the CSRV technology and designed to run on flare-off gas from oil wells, landfill gas and raw natural gas. The Company is actively engaged in planning for production and rollout of these engines.
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. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include market conditions, regulatory approvals, and other risks inherent in our operations. For a discussion of these risks and uncertainties, 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.