Exhibit 10.20


 


Scientific Research Technology Contract


 


Contract Number: MH20130343


 


Project Name: Coating type super capacitor
electrode material compounding process


 


Principal: Zhejiang Forest Bamboo Tech.
Ltd. (Party A)


 


Undertaker: Harbin Institute of Technology
(Party B)


 


Signed date: 2013-07-12


 


Contract Term: 2013-07-12 till 2014-02-12


 


Contract Content: the goal of the research subject is the formation of electrode paste using KOH activated
carbon produced by Party A as raw material, which is the average particle size range, the selection of conductive addictive and
binders, the ratio of various materials and preparation method of mixed paste.


 


Party A’s Obligations and Rights


 


1. Party A shall provide 200,000 yuan as funding
for the project.


 


2. Party A shall cover travel expenses and
accommodation costs when Party B’s research staff come to the designated placed by Party A for the project. Party A shall
also pay 50 yuan/day living allowance for the students who work for A from B.


 


3. Party A shall regularly check on the progress
of the project and provide suggestions.


 


4. Party A shall have the right to question
when Party B fails to conduct the research according to rules and time requirement.


 


5. Party A shall follow confidentiality agreement
in terms of the research.


 


Party B’s Obligations and Rights


 


1. Party B shall conduct the research and
regularly report to Party A on the progress of the project.


 


2. Party B shall submit research report which
will be reviewed and accepted by the Inspection Team formed by members from both parties.


 


3. Party B shall follow confidentiality agreement
in terms of the research.


 


4. Party B shall be obligated to keep confidentiality
of the relevant data, materials and formula and any other information provided by Party A.


 








5. Party B shall have the right to request
for research fee after completion of each stage of the project.


 


6. At each stage of the project, Party B shall
assist Party A to prepare project applications and appraisal reports.


 


Stages and Plans for the Project:


 


2013-07 to 2013-11: Party B shall collate
information and technical data.


 


2013-12 to 2014-01: Party B shall come to
Party A’s site for onsite process test.


 


2014-01 to 2014-02: Parties shall conduct
inspections and hold an appraisal meeting.


 


Place of performance: Harbin Institute of
Technology, Zhejiang Forest Bamboo Tech. Ltd.


 


Sharing the Result of the Contract:


 


1. All of the new technology and patent generated
from this project belong to both parties. Party A shall have the priority right of use to the technology and patent. With mutual
consent from both parties, this technology and patent can be transferred to third party to implement, and the parties will share
the transfer fee equally.


 


2. Any financial support or funding from the
government will be split between the parties – Party A take 75% and Party B take 25%.


 


3. Party A shall take 60% of any research
monetary awards awarded by country, province, city or Ministry of Education for Scientific and Technological Progress awards, and
Party B shall take 40%.


 


Risk Liability:


 


Both parties will bear the liability based
on its own obligations and responsibilities, unless it is a force majeure incident.


 


Breach of Contract:


 


1. If Party B proposes to terminate the contract
due to Party A’s cause, Party A shall have no right to request refund of the paid cooperation fee.


 


2. If Party A proposes to terminate the contract
due to Party B’s cause, Party B shall return 50% of the paid cooperation fee.


 


3. If any party breaches the confidentiality,
the other party shall have the right to claim for damage.


 








Transaction


 


Amount: 200,000 yuan


 


Within 10 days upon the entry of the contract,
Party A shall pay Party B 200,000 yuan.


 




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