EXHIBIT 6.53


                EUROPEAN INVESTOR RELATIONS CONSULTING AGREEMENT


Between:          MAGDALENA FINANCE CORP.,
                  (the "Consultant")
At:               c/o Buser Management,
                  Todistr. 51, CH-8039 Zurich, Switzerland
                  Facsimile: ______________________

And:              IQ POWER TECHNOLOGY INC.
                  (the "Company")
At:               c/o Erlenhof Park, Inselkammer Strasse 4,
                  D-82008 Unterhaching, Germany
                  Facsimile: 011-4989-614483-40

IN  CONSIDERATION  of the  mutual  promises  and  covenants  and the  terms  and
conditions  set out in sections 1.00 through 9.00  attached,  the Company hereby
offers and the Consultant  hereby accepts  engagement  with the Company upon the
terms and conditions set forth herein:

Position:                  Investor Relations Part-Time Dependent Consultant.

Services:                  Services to be provided shall relate generally to the
                           position of the Consultant and shall include those
                           items and be provided in the manner described in
                           Schedule A.

Term                       of Agreement:  This  Agreement  shall have an initial
                           term of 12 months and be deemed to have  commenced on
                           May 1, 2001, notwithstanding the date of execution.

Period of Services:        40 hours per week including market opening hours

Compensation:              As  consideration  for the Services of the Consultant
                           hereunder, the Company shall pay the Consultant a fee
                           of US$62,500  through the issue of 250,000  shares of
                           the Company (the "Shares') at a deemed price of $0.25
                           per share in monthly installments of 20,850 shares in
                           each of the first eleven  months and 20,650 shares in
                           the twelfth month,  each such  installment due within
                           seven days of the end of the calendar month for which
                           that installment accrued due.

Company Contact Person::   Peter Braun, President

Consultant Contact         ________________________
Person:



Executed  and  delivered  by and on     Executed and  delivered by and on behalf
behalf of the Company at Unterhaching,  of the Consultant at _________________,
Germany, effective ____________.        effective ___________________.


IQ POWER TECHNOLOGY INC.                MAGDALENA FINANCE CORP.

Per: ------------------------------     Per:  ------------------------------
     Peter Braun, President
                                        Title: ------------------------------




<PAGE>

                              CONSULTING AGREEMENT
                              TERMS AND CONDITIONS

1.00  Representations, Warranties, and Covenants of the Consultant
------------------------------------------------------------------

1.01 The Consultant represents and warrants to, and covenants with, the Company,
as follows:

a.   the  Consultant has the ability,  experience and skills  necessary to carry
     out its obligations under this Agreement;

b.   the Consultant and its officer,  employees,  agents and  consultants  shall
     comply with all securities laws and  regulations  applicable to the Company
     or the Consultant, and all policies, rules and requirements of any exchange
     or quotation system on which the shares of the Company trade;

c.   the Consultant shall, and shall cause its officers,  employees,  agents and
     co-consultants to, act at all times in the best interests of the Company;

d.   the Consultant,  upon notice from the Company,  will cease all Services for
     the  period  directed  by the  Company  without  effect on the  payment  of
     compensation   due  hereunder   unless  this  Agreement  is  terminated  in
     connection with the request to cease Services;

e.   the  Consultant   will  not  distribute  or  disseminate   any  information
     concerning the Company in any form or medium,  unless such  information has
     been  provided  to  the  Consultant  by the  Company  for  distribution  or
     dissemination,  or the Company has reviewed and approved  such  information
     prior to its distribution of dissemination by the Consultant; and

f.   the Consultant  will not engage in any  transaction  involving the offer or
     sale of  securities  of the Company,  and will not solicit or encourage any
     other  party to engage in any  transaction  involving  the offer or sale of
     securities of the Company, at any time that the Consultant is in possession
     of material non-public information concerning the Company.

2.00 Position and Services
--------------------------

2.01 The  Consultant  shall  provide the  Services  indicated  on the first page
hereof and in such  capacity,  shall  carry out the duties and  responsibilities
commensurate  with that  position as such duties are more  specifically  defined
from time to time during the term of this Agreement by the Board of Directors of
the Company.

2.02 In providing his services  hereunder,  the  Consultant  shall report to and
take  directions  from the Chief  Financial  Officer of the Company,  subject to
overriding  directions  from  the  President  of the  Company  or the  Board  of
Directors of the Company.

2.03  The  Company  will  provide  the  Consultant  on a  regular  basis  at the
appropriate  occasions with corporate news,  which the Consultant with regard to
his editorial  responsibility  will adapt and make public.  The Company may draw
the Consultant's attention to the point of time and the relevant countries, when
and where the news have to be made public.

2.04 The Company  shall use its best efforts to ensure the  corporate  and other
information  delivered  by the  Company  to the  Consultant  is  accurate,  that
publication of such  information  does not infringe the rights of a third party,
and that the relevant laws, which necessitate a publication,  have been observed
and not violated.

2.05 The Company  exempts  the  Consultant  from any claim of damages,  claim of
costs or any other  claim,  which might  effect the  property of the  Consultant
which arises from the fact that data or  information of any kind provided by the
Company are not correct or are violating the rights of a third party.  Incorrect
are those data or information which can not be proven in court.

2.06 The  Consultant  is not obliged to succeed in  achieving  a specific  stock
performance for the Company as to either price or volume.

2.07 The Company will take charge and be  responsible  for  compliance  with the
relevant  securities  law,  company law and any other law which  prescribes  the
publication of certain information and certain data at a certain time or certain
event if this  information or data are published in connection  with the sale of
securities.


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                                                            Consulting Agreement
                                                                          Page 3



3.00 Terms; Termination of Engagement
-------------------------------------

3.01 The term of  engagement  pursuant to this  Agreement  shall be for the term
stated on the first page hereof and  thereafter  engagement  shall continue on a
monthly basis until  terminated by the Company or the  Consultant.  Either party
may terminate the Consultant's engagement as follows:

a.   the  Consultant  may  terminate his services at any time and for any reason
     upon one month's written notice to the Company;

b.   the Company may terminate the Consultant's services at will. If the Company
     terminates the  Consultant's  engagement  without cause,  the  Consultant's
     salary and  benefits  shall  continue  for at least the initial term of the
     Agreement

c.   the  Company  may  terminate  the  Consultant's  services  for cause  after
     reasonable notice of any  non-performance  has been given by the Company to
     the  Consultant  and a  reasonable  opportunity  has been  afforded  to the
     Consultant to remedy any instance of  non-performance.  For purposes of the
     preceding sentence, "cause" shall include but not be limited to:

     i.    fraud,

     ii.   conviction or confession of an indictable offense,

     iii.  destruction or theft of the Company's property,

     iv.   misconduct materially injurious to the Company, or

     v.    any breach or threatened breach of this Agreement.

3.02 If the Consultant's engagement is terminated:

a.   subject to paragraph 3.01.b, no further  compensation coming due under this
     Agreement  after the date of  termination  shall be payable by the Company;
     and

b.   the  Consultant  shall continue to be bound by the terms of section 6.00 of
     this Agreement.

4.00 Compensation
-----------------

4.01  During  the  term of  this  Agreement,  the  Consultant  shall  be paid in
accordance  with the  compensation  provisions  on the first page  hereof.  This
compensation  may be increased  from time to time subject to the approval of the
Board of Directors of the Company  and,  where  required,  any  regulatory  body
having jurisdiction.

4.02     The Consultant represents and warrants to the Issuer that:

a.   the  Consultant  is aware that the Shares have not been  qualified  under a
     Securities  Act or  Exchange  Act (an  "Act") or any  regulations  or rules
     thereunder (the "Rules") for distribution to the public,  that the issuance
     of the  Shares  pursuant  to  this  Agreement  is to be by  way of  private
     placement  exempted from the registration  requirements of any Act and from
     the prospectus  requirements of any Act under an exemption to be determined
     by the Issuer, and that the Consultant is restricted from using most of the
     civil remedies  available under such Acts and the Rules thereto and may not
     receive  information  that would be  otherwise  available to him under such
     Acts and the Rules in connection with his purchase of the Shares;
b.   the  Consultant  is acquiring  the Shares as principal and no other person,
     firm or corporation will have a beneficial interest in the Shares;
c.   the Shares are being acquired for  investment  purposes only and not with a
     view to resale or distribution;
d.   the  Consultant  is not a control  person of the  Issuer as  defined in any
     securities act applicable to the issue of the Shares and the acquisition of
     the  Shares  will not  result in the  Consultant  owning 20% or more of the
     issued and outstanding shares of the Issuer or becoming a control person;
e.   the  Consultant  is not  acquiring  the Shares as a result of any  material
     information  about the  affairs  of the Issuer  that has not been  publicly
     disclosed, save knowledge of this particular transaction;

<PAGE>

                                                            Consulting Agreement
                                                                          Page 4


f.   the  Consultant  is not a  resident  of Canada  and this  Agreement  is not
     subject to the securities laws of any province or territory in Canada;
g.   the Consultant is not a "U.S.  Person" (the  definition of which  includes,
     but is not limited to, an  individual  resident in the United States and an
     estate  or  trust  of which  any  executor  or  administrator  or  trustee,
     respectively, is a U.S. Person and any partnership or corporation organized
     or incorporated under the laws of the United States);
h.   the  Consultant  was outside the United States at the time of execution and
     delivery of this subscription agreement;
i.   no offers to sell the  Shares  were  made by any  person to the  Consultant
     while the Consultant was in the United States;
j.   the Shares are not being acquired  directly or indirectly,  for the account
     or  benefit  of a U.S.  Person or a person  in the  United  States  and the
     Consultant does not have any agreement or understanding  (either written or
     oral) with any U.S. Person respecting:

     i.   the transfer or assignment of any rights or interest in any of the
          Shares,
     ii   the division of profits, losses, fees, commissions, or any financial
          stake in connection with this subscription, or
     iii. the voting of the common shares;

k.   the  Consultant  and the  Issuer  agree  that the Issuer may not permit the
     transfer of the Shares  unless such  transfer  is made in  accordance  with
     Regulation S under the 1933 Act;
l.   the Consultant  acknowledges that the Shares have not been registered under
     the United States  Securities Act of 1933 (the "1933 Act"),  and may not be
     offered or sold in the United  States,  and the  Consultant  undertakes and
     agrees that it will not offer or sell the Shares  during the 40-day  period
     following the date of issue (the "Distribution  Compliance Period").  After
     such 40-day Distribution  Compliance Period, the Consultant  undertakes and
     agrees to sell such Shares only outside the United  States in a transaction
     meeting the requirements of Regulation S under the 1933 Act. The Consultant
     understands that the Corporation has no obligation or present  intention of
     filing a  registration  statement  under  the 1933  Act in  respect  of the
     Shares; and
m.   the Consultant agrees not to engage in hedging  transactions with regard to
     the Shares prior to the  expiration of the 40-day  Distribution  Compliance
     Period;  and the Consultant  acknowledges  and agrees with the  Corporation
     that the  Corporation  shall  refuse to register any transfer of the Shares
     not made in  accordance  with the  provisions  of Regulation S, pursuant to
     registration  under  the  Securities  Act,  or  pursuant  to  an  available
     exemption from registration under the 1933 Act.

5.00 Non-circumvention of Consultant
------------------------------------

5.01 In and for valuable consideration, the Company agrees that:

a.   the Consultant may introduce the Company (whether  written,  oral, data, or
     otherwise made by the Consultant) to opportunities  (the  "Opportunities"),
     including,  without limitation,  existing or potential investors,  lenders,
     borrowers, trusts, corporations, and unincorporated business entities;

b.   the identity of the Opportunities, and all other information concerning the
     Opportunities  (including,  without  limitation,  all mailing  information,
     telephone  and  facsimile  numbers,  email  addresses,  and  other  contact
     information)  introduced  hereunder are the property of the  Consultant and
     shall be treated as confidential information;

c.   it shall not use such  information  except in the context of joint  venture
     with the  Consultant,  and never  without the  Consultant's  prior  written
     approval;

d.   neither it, nor its employees,  affiliates and assigns shall enter into, or
     otherwise  arrange  (either  for itself or any other  person of entity) any
     business relations,  contact any person of an Opportunity,  either directly
     or indirectly,  or any of its  affiliates,  or accept any  compensation  or
     advantage  in relation  to an  Opportunity  except as directed  through the
     Consultant, without the prior written approval of the Consultant.

The Consultant is relying on the Company to assent to these terms and the intent
of the Company to be bound by the terms as evidenced by the Company's  execution
of this Agreement. Without the assent of the Company


<PAGE>

                                                            Consulting Agreement
                                                                          Page 5


to these terms,  the Consultant  would not introduce any Opportunity or disclose
any confidential information in pursuance of this Agreement.

6.00 Ownership of Technology; Confidentiality
---------------------------------------------

6.01 The Consultant  recognizes and  acknowledges  that during the course of his
engagement,  he will have access to certain  information  not generally known to
the public, relating to the products, sales or business of the Company which may
include,  without limitation,  software,  literature,  data,  programs,  Company
contact  lists,  sources  of supply,  prospects  or  projections,  manufacturing
techniques, processes, formulas, research or experimental work, work in process,
trade secrets or any other proprietary or confidential matter (collectively, the
"Confidential  Information").  The Consultant  recognizes and acknowledges  that
this Confidential  Information constitutes a valuable,  special and unique asset
of  the  Company,  access  to  and  knowledge  of  which  are  essential  to the
performance of the Consultant's  duties. The Consultant  acknowledges and agrees
that all such Confidential Information,  including without limitation that which
the Consultant  conceives or develops,  either alone or with others, at any time
during his engagement by the Company, is and shall remain the exclusive property
of the Company. The Consultant further recognizes, acknowledges and agrees that,
to enable the Company to perform services for its customers or its clients, such
customers or clients may furnish to the Company or the  Consultant  Confidential
Information concerning their business affairs, property, methods of operation or
other data, that the goodwill afforded to the Company depends on the Company and
its employees preserving the confidentiality of such information,  and that such
information shall be treated as Confidential  Information of the Company for all
purposes under this Agreement.

6.02 The  Consultant  agrees  that,  except  as  directed  by the  Company,  the
Consultant will not at any time, whether during or after his engagement with the
Company,  use or  disclose  to any  person  for any  purpose  other than for the
benefit of the Company  any  Confidential  Information,  or permit any person to
use,  examine  and/or  make  copies  of any  documents,  files,  data  or  other
information sources which contain or are derived from Confidential  Information,
whether  prepared by the  Consultant  or  otherwise  coming  into the  Company's
possession or control without the prior written permission of the Company.

6.03 The  Consultant  agrees  that upon  request by the Company and in any event
upon  termination of engagement,  the Consultant  shall turn over to the Company
(or  provide  proof  of  destruction  of) all  Confidential  Information  in the
Consultant's  possession or under his control which was created  pursuant to, is
connected  with or derived from the  Consultant's  services to the  Company,  or
which is related in any manner to the Company's business  activities or research
and development  efforts,  whether or not such materials are in the Consultant's
possession as of the date of this Agreement.

7.00 Saving Provision
---------------------

7.01 The Company and the Consultant  agree and stipulate that the agreements and
covenants contained in the preceding sections 5.00 and 6.00, including the scope
of the restricted  activities  described therein and the duration and geographic
extent  of  such  restrictions,  are  fair  and  reasonably  necessary  for  the
protection  of the parties and the  information  described,  goodwill  and other
protectable  interests,  in light of all of the facts and  circumstances  of the
relationship  between the  Consultant  and the Company.  In the event a court of
competent  jurisdiction should decline to enforce any provision of the preceding
paragraphs,  such paragraphs  shall be deemed to be modified to restrict them to
the  maximum  extent,  in both time and  geography  which the court  shall  find
enforceable.

8.00 Injunctive Relief
----------------------

8.01 Each party  acknowledges  that a breach or threatened  breach of any of the
covenants or other  agreements  contained  herein would give rise to irreparable
injury to the party  relying on such  covenant or other  agreement  which injury
would be inadequately compensable in money damages.  Accordingly,  such party or
where  appropriate,  a client of such party,  may seek and obtain an  injunctive
relief from the breach or threatened  breach of any  provision,  requirement  or
covenant of this  Agreement,  in addition to and not in  limitation of any other
legal remedies which may be available.

8.02 The parties  acknowledge and agree that the covenants  contained herein are
necessary for the  protection  of the parties'  respective  legitimate  business
interests and are reasonable in scope and content.



<PAGE>

                                                            Consulting Agreement
                                                                          Page 6


9.00 General
------------

9.01 This  Agreement and all matters  arising  hereunder will be governed by and
construed in accordance  with the laws of the State of Washington,  and the laws
of the United States applicable  therein,  and all disputes and claims,  whether
for specific performance, injunction, declaration or otherwise howsoever both at
law and in equity,  arising out of or in any way connected  with this  Agreement
will be referred to the courts of the State of Washington  exclusively,  and, by
execution and delivery of this Agreement,  each party hereby irrevocably submits
and attorns to such jurisdiction.

9.02 In the event it becomes  necessary to enforce this Agreement  through legal
action,  whether or not a suit is actually  commenced,  the party which  obtains
substantial  success  in a legal  action  shall  be  entitled  to his or  actual
reasonable solicitor's fees and disbursements.

9.03 Any reference in this  Agreement in the masculine  gender shall include the
feminine and neuter genders,  and vice versa,  as appropriate.  Any reference in
this  Agreement  in the  singular  shall  mean the  plural  and vice  versa,  as
appropriate.

9.04  There is no  verbal or other  agreement  that may  modify  or affect  this
Agreement.

9.05 All dollars expressed in this Agreement are United States dollars.

9.06 This Agreement shall be considered and construed as a single instrument and
the failure to perform any of the terms and conditions in this  Agreement  shall
constitute a violation or breach of the entire instrument or Agreement and shall
constitute the basis for cancellation or termination.

9.07 The  parties  hereto  agree  to do or  cause to be done all acts or  things
necessary to implement and carry into effect the  provisions  and intent of this
Agreement.

9.08 All notices,  requests, demands and other communications which are required
to be or may be given  under this  Agreement  shall be in  writing  and shall be
deemed to have been duly given when delivered in person or transmitted by e-mail
or other telecommunication facility or on receipt after dispatch by certified or
registered first class mail, postage prepaid to the party to whom the same is so
given or made to its address noted on the first page.

9.09 This Agreement,  including all Schedules  attached hereto,  constitutes the
entire  agreement and supersedes all prior agreements and  understandings,  oral
and  written,  between the parties  hereto  with  respect to the subject  matter
hereof  and may not be  amended,  modified  or  terminated  unless  in a written
instrument executed by the party or parties sought to be bound.

9.10 This Agreement may be executed in any number of counterparts, each of which
when executed, shall be deemed to be an original and all of which together shall
be  deemed  to be one and  the  same  instrument  and a  facsimile  copy of this
Agreement  executed by a party hereto in counterpart or otherwise will be deemed
to be a valid and binding Agreement and accepted as an original of the Agreement
until such time as each of the parties has an originally  executed  Agreement in
its possession.




<PAGE>


                                   SCHEDULE A

Services shall include:

1.   assisting  in  formulating  plans  and  budgets  from  time to time for the
     dissemination  of  information  in Europe  concerning  the  Company  to its
     clients, potential clients, existing shareholders,  potential investors who
     have contacted the Company seeking such information, financiers, the media,
     the brokerage community and others as appropriate;

2.   disseminating  such information to the persons mentioned in accordance with
     the  marketing  plan  of the  Company  to  encourage  participation  in the
     development of the Company;

3.   bank and institutional liaison and data compilation;

4.   regular reports to the Company;

5.   advising the Company on matters concerning  corporate finance and arranging
     introductions for the purpose of sourcing capital; and

6.   introducing the Company to prospective financiers and business contacts who
     could assist in the development of the Company.