Coates International Ltd. announced that Renown Power Development Ltd. is the company that is purchasing the License from Coates International Ltd. for USD 100,000,000.00 with non-exclusive rights to distribute CSRV Products throughout the Western Hemisphere and exclusive rights to manufacture the Coates CSRV Products in China and sub-license other companies in China only. License from the Coates family with distribution rights throughout the Eastern Hemisphere. The Coates family is acquiring exclusive rights to manufacture all CSRV Products in China and will have the rights to sublicense other companies in China to manufacture other engine applications.

The Coates CSRV Green Engine Technology will reduce the production of harmful emissions and help reduce CO2 that causes global warning. The CSRV Engines operate on natural gas, propane, hydrogen and a blend of alternative fuels.