Stocks for Coates International Ltd. (PINK SHEETS: COTE) sharply rose in value today, rising from an opening price of 29 cents a share to 43 cents a share by noon, the largest jump in the stock’s price for the past month.
This rise comes hot on the heels of a number of press releases posted earlier this week. On Monday, May 1, the company announced it closed a financing transaction with Dutchess Private Equities Fund, Ltd. worth up to $10 million. Then, on Tuesday, May 2, the company released information that it had completed a high-performance racing engine dubbed the 351 V8 Racing Engine.
According to the press release, the engine is low-maintenance, has high volumetric efficiency, runs at a 14 to 1 compression ratio, and was brought up to 10,500 RPM during the rigorous testing process – and that a racing team (which was not identified in the press release) had expressed an interest in the new engine.
While the new engine is certainly worthy of note, the brainchild of Coates International is the Coates Spherical Rotary Valve System (CSRV), an innovative valve system for internal combustion engines. According to the company’s Web site, it changes the means of both delivering the air and fuel mixture to an engine’s firing chamber and of expelling the exhaust caused by the mixture ignites by using two spherical valves that rotate between a two-piece cylinder head. In layman’s terms, this means the engine produces a lower number of emissions, reduced fuel requirements, and increased engine power – an obvious benefit any gearhead can appreciate.
Also, CSRV engines aren’t confined to simple petroleum-based fuels – they can run on hydrogen, ethanol, biodiesel, propane, natural gas, and any number of combustible engine fuels. Lastly, the CSRV system can be retrofitted into any existing internal combustion engine no matter what the size or type, from heavy military engines to lawnmowers.
