Exhibit 10.1

                              CONSULTING AGREEMENT


This  Consulting  Agreement  (this  "Agreement")  is made as of March  28,  2001
between  Beacon  Power  Corporation  ("BPC")  and  Richard H. Lane,  an agent of
International  Investment  Management  Inc.  with  respect  to  services  to  be
performed  for BPC by  International  Investment  Management  Inc.  The parties'
respective addresses are as set forth below their signature lines.

1.  Employment.  Commencing  on or  about  the  date  hereof,  BPC  will  engage
International  Investment  Management  Inc.,  and they each  hereby  accept such
engagement, upon the terms and conditions in this Agreement.

2.  Duties and  Services.  International  Investment  Management  Inc.  will act
strictly as a Marketing  Representative  and advisor to BPC and shall be subject
to Internal Revenue Code 1099 tax reporting.  Services provided by International
Investment  Management  Inc.  will  include,  but are not limited to,  sales and
corporate  development  functions  specifically  relating to business  expansion
through the introduction of BPC to certain potential companies that both BPC and
International  Investment  Management  Inc.  agree would serve well as strategic
corporate  allies  in  developing,  enhancing,  marketing  and  promoting  BPC's
business. BPC understands that International  Investment Management Inc. expects
to be and may be  additionally  compensated  by  other  concerns  simultaneously
during the term of this Agreement. International Investment Management Inc. will
report and coordinate his activities with the V.P. of Finance of BPC.

3. Compensation.

          (a) International  Investment  Management Inc. will be paid $1,000 per
     day for services rendered to BPC invoiced on a weekly basis, and

          (b) International  Investment  Management Inc. will be provided with a
     BPC corporate credit card and will be reimbursed,  monthly,  by BPC for all
     reasonable out-of-pocket expenses, and

          (c)  During  the  Term,  and  for a  period  of one  (1)  year  after,
     International  Investment  Management Inc. will be further compensated by a
     success fee for each sale of BPC equipment  that  International  Investment
     Management  Inc.  directly  and solely  brings to the  attention of BPC and
     directly negotiates as follows:

          (i) The success fee shall equal a four (4%) percent  commission on the
              [gross] proceeds of the sale of equipment pursuant to contracts
              with Federal or State Government agencies, or sales that are
              accompanied with valid letters of credit from banks qualified by
              BPC, two (2%) percent of which shall be paid at contract approval
              by BPC and the remaining two (2%) percent will be paid upon
              acceptance and full payment for the products sold.

4.  Independent  Contractor.  International  Investment  Management  Inc.  is an
independent  contractor,  is  not  an  agent  or  employee  of  BPC,  and is not
authorized to act on behalf of BPC.  International  Investment  Management  Inc.
shall have no  authority  to bind BPC,  and will not hold  himself  out to third
parties as having such authority. International Investment Management Inc. shall
be solely  responsible for taxes and other wage deductions  incurred as a result
of  performing  services  under this  Agreement.  Under no  circumstances  shall
International  Investment  Management  Inc. be  considered  to be an employee or
agent of BPC.

5. Non-Competition.  International Investment Management Inc. shall not:

    (a) induce or attempt to induce any  customer,  joint  venturer,  developer,
        distributor or supplier of BPC to reduce such person's business with
        BPC; or

    (b) solicit any of BPC's employees to leave the employ of BPC.

6. No  Disclosure of  Confidential  Information.  In addition to any  provisions
contained in the [Confidential  Disclosure  Agreement] between the parties dated
April 11,  2001 (the "CDA"),  International  Investment  Management  Inc. shall
not  at  any  time  during  the  Term  or  thereafter  divulge,   use,  furnish,
appropriate,  disclose  or make  accessible  to  anyone  other  than  BPC or its
authorized agents any data, records, files, reports, pricing information,  sales
manuals, client lists, business contacts,  employee lists, operating procedures,
marketing techniques,  manufacturing techniques and processes, business plans or
financial   information   (collectively,   "Confidential   Information")   which
Confidential  Information is disclosed to  International  Investment  Management
Inc. by, or known to International  Investment  Management Inc. as a consequence
of or through,  its  engagement by BPC;  provided,  however,  that  Confidential
Information  shall not include  information  or materials that are (i) generally
known  to the  public  or  publicly  available,  or (ii)  constitute  recognized
standard  industry  practice,  (iii) already in the possession of  International
Investment  Management  Inc.  prior to the date hereof without  disclosure  from
International  Investment Management Inc.  These restrictions shall apply to all
Confidential  Information  whether written,  oral such Confidential  Information
being recognized and acknowledged as the sole and exclusive  property of BPC. In
the event that  International  Investment  Management  Inc.  is required by law,
court  order  or  legal  process  to  disclose  any  Confidential   Information,
International  Investment Management Inc. agrees that he will provide BPC prompt
notice  of such  requirement(s)  so  that  BPC may  consult  with  International
Investment Management Inc. as to the manner, timing and scope of such disclosure
and may seek an appropriate protective order.

7. Return of Confidential  Information.  In addition to any provisions contained
in the  CDA,  upon  completion  of the  Term or any  other  time  upon  request,
International Investment Management Inc. will promptly deliver to BPC all notes,
memoranda,  notebooks,  drawings,  records,  reports,  files,  lists  and  other
documents (and all copies or  reproductions  of such materials no matter in what
form such  information is recorded or stored) as well as any computer  programs,
discs,  tapes  or  other  information  storage  and  retrieval  devices  in  the
possession or under the control of  International  Investment  Management  Inc.,
whether prepared by International  Investment  Management Inc. or others,  which
contain Confidential Information.

8. Term and  Termination.  The initial term of this  Agreement  shall be six (6)
months;  yet may be  extended  by BPC for any  length it desires  (the  "Term").
Either party may terminate this Agreement at any time by giving thirty (30) days
written notice to the other party.

9. Miscellaneous.

     9.1  Waiver of  Breach.  The  failure  of any party at any time or times to
require performance of any provision of this Agreement shall in no manner affect
that party's  right at a later time to enforce the same.  No waiver by any party
of the breach of any term or covenant  contained  herein,  whether by conduct or
otherwise, in any one or more instances, shall be deemed to be, or construed as,
a further or continuing  waiver of any such breach, or a waiver of the breach of
any other term or covenant contained herein.

     9.2 Notices. All notices,  requests,  demands, and any other communications
hereunder shall be made in writing,  and shall be deemed to have been duly given
if and when delivered (including delivery by confirmed facsimile  transmission),
or three  days  after  being  sent by  recognized  overnight  delivery  service,
addressed  to  BPC  and  International   Investment  Management  Inc.  at  their
respective  addresses  shown  below the  signature  lines  hereof (or such other
address as either may notify to the other from time to time),  with a copy being
sent (in the case of notices to BPC) to BPC counsel,  Albert L. Sokol, Edwards &
Angell, LLP, 101 Federal St., Boston, MA 02210, FAX: 617-439-4170.

     9.3  Assignment;  Binding  Effect.  No  interest  in this  Agreement  or in
International  Investment Management Inc. rights or obligations hereunder may be
assigned by him, and any such purported assignment shall be void and of no force
or effect. This Agreement shall be binding upon and inure to the benefit of BPC,
its successors and assigns,  and shall be binding upon International  Investment
Management Inc., his successors and assigns.

     9.4 Entire  Agreement;  Amendment.  This Agreement  constitutes  the entire
agreement  between the parties with respect to the subject matter  hereof,  and,
unless   otherwise   provided   herein,   supersedes  all  prior  agreements  or
understandings,  written or oral,  in respect  thereof.  This  Agreement  may be
amended, modified, superseded,  canceled, renewed, or extended, and the terms or
covenants  hereof  may be  waived,  only by a written  instrument  signed by the
parties hereto, or in the case of a waiver, by the party waiving compliance.

     9.5 Governing law. This Agreement,  and all questions arising in connection
therewith, shall be governed by and construed in accordance with the laws of The
Commonwealth of Massachusetts.

     9.6 Certain Consultant Representations. International Investment Management
Inc. represents and warrants his engagement by BPC as described herein shall not
conflict with and will not be constrained by any prior  engagement or consulting
agreement or relationship.  International  Investment Management Inc. represents
that he has no business relationship of any nature, direct or indirect, with any
Director or Officer of BPC.

     9.7 Enforcement.  The parties recognize and acknowledge that  International
Investment Management Inc. is engaged under this Agreement to render services of
a unique character,  requiring special expertise and experience by International
Investment Management Inc.. International Investment Management Inc. agrees that
a breach by him of Section 6 could not  reasonably or adequately be  compensated
in  damages  in an action at law and that BPC shall be  entitled  to  injunctive
relief, which may include but shall not be limited to restraining  International
Investment  Management  Inc.  from  rendering any service that would breach this
Agreement.  However,  no remedy  conferred by any of the specific  provisions of
this Agreement (including this Section) is intended to be exclusive of any other
remedy,  and each and every remedy shall be cumulative  and in addition to every
other remedy given under this  Agreement or now or hereafter  existing at law or
in equity or by statute or  otherwise.  The election of any one or more remedies
by BPC shall not  constitute  a waiver  of the right to pursue  other  available
remedies.

     9.8 Indemnification.  BPC shall indemnify and bear all costs,  expenses and
final judgments/settlements incurred by International Investment Management Inc.
ensuing from any legal action naming  International  Investment  Management Inc.
resulting from this Agreement;  provided,  however,  that BPC shall have no such
obligation if the  involvement of  International  Investment  Management Inc. in
such legal  action is a result of  International  Investment  Management  Inc.'s
fault,  negligence,  misconduct,  misrepresentation or breach of this Agreement;
provided, that in connection with any claim or action described in this Section,
International Investment Management Inc. (aa) gives BPC prompt written notice of
the claim,  (bb) cooperates with BPC (at its own expense) in connection with the
defense and settlement of the claim, and (cc) permits BPC to control the defense
and settlement of the claim,  provided that BPC may not settle the claim without
International Investment Management Inc.'s prior written consent (which will not
be unreasonably withheld). Further, International Investment Management Inc. (at
his own cost) may  participate  in the  defense  and  settlement  of the  claim.
International  Investment  Management  Inc. shall  indemnify and bear all costs,
expenses and final  judgments/settlements  incurred by Beacon  ensuring from any
legal action  naming  Beacon  resulting  from this  Agreement  that is caused by
International  Investment  Management  Inc.'s  fault,  negligence,   misconduct,
misrepresentation or breach of this Agreement; provided, that in connection with
any claim or action  described  in this  Section,  BPC (aa) gives  International
Investment  Management Inc. prompt written notice of the claim,  (bb) cooperates
with International Investment Management Inc. (at his own expense) in connection
with the defense and  settlement  of the claim,  and (cc) permits  International
Investment  Management  Inc. to control the defense and settlement of the claim,
provided that International  Investment Management Inc. may not settle the claim
without BPC's prior written consent (which will not be  unreasonably  withheld).
BPC (at its own cost) may  participate  in the  defense  and  settlement  of the
claim.

     9.9  Counterparts.  This  Agreement  may  be  executed  in  any  number  of
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same  instrument.  Delivery of an executed
signature page of this Agreement by facsimile transmission shall be effective as
an originally executed counterpart hereof.


IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.


International Investment Management Inc.      BEACON POWER CORPORATION

     /s/ Richard H. Lane, Agent

Address:International Investment             By: __/s/_Willian Stanton__
        Management Inc.
        ----------------------------         Name: William Stanton
        P.O Box   Main Street
        ----------------------------         Title: President and CEO
        Charleston, Nevis
        ----------------------------         Address:  Beacon Power Corp
                                                       6D Gill Street
FAX:                                                   Woburn MA 01801-1721
                                                       USA
                                                       FAX:  (978)-694-9127