Sponsored Research Agreement between Drexel University and W2 Energy, Inc.


    
      

    


    EXHIBIT
      10.2

    Sponsored
      Research Agreement between Drexel University and W2 Energy, Inc.

    


    SPONSORED
      RESEARCH AGREEMENT

    


    


    This
      Sponsored Research Agreement ("AGREEMENT") is made by and between Drexel
      University, a Pennsylvania nonprofit corporation ("DREXEL"), with offices
      located at 3201 Arch Street, Philadelphia, PA 19104 and W2 Energy Inc., a
      corporation organized and existing under the laws of Nevada ("SPONSOR"), having
      a place of business at 711S Suite 4 Carson Street Carson City
      Nevada.

    


    This
      AGREEMENT is effective on January 31, 2006 ("EFFECTIVE DATE").

    


    
      	
              1.

            	
              DEFINITIONS

            


    

    


    
      	 	
              1.1.

            	
              DREXEL
                INTELLECTUAL PROPERTY means and includes all technical information,
                inventions, developments, discoveries, software, know-how, methods,
                techniques, formulae, data, processes and other proprietary ideas,
                whether
                or not patentable or copyrightable, that are first conceived, discovered,
                developed or reduced to practice in the conduct of the SPONSORED
                RESEARCH.

            


    

    


    
      	 	
              1.2.

            	
              PRINCIPAL
                INVESTIGATOR is Alexander Fridnan, who is responsible for supervision
                and
                administration of the SPONSORED
                RESEARCH.

            


    

    


    
      	 	
              1.3.

            	
              SPONSORED
                RESEARCH means the research program described in Attachment A to
                this
                AGREEMENT.

            


    

    


    
      	
              2.

            	
              SPONSORED
                RESEARCH

            


    

    


    
      	 	
              2.1.

            	
              DREXEL
                agrees to begin the SPONSORED RESEARCH after the EFFECTIVE DATE and
                upon
                payment by SPONSOR of any funds owed. DREXEL agrees to use reasonable
                efforts to conduct the SPONSORED RESEARCH substantially in accordance
                with
                the terms and conditions of this AGREEMENT. SPONSOR acknowledges
                that
                DREXEL and the PRINCIPAL INVESTIGATOR shall have the freedom to conduct
                and supervise the SPONSORED RESEARCH in a manner consistent with
                DREXEL's
                educational and research missions.

            


    

    


    
      	 	
              2.2.

            	
              If
                the services of the PRINCIPAL INVESTIGATOR become unavailable to
                DREXEL
                for any reason, DREXEL is entitled to designate another member of
                its
                faculty who is acceptable to both parties to serve as the PRINCIPAL
                INVESTIGATOR of the SPONSORED RESEARCH. If a substitute PRINCIPAL
                INVESTIGATOR has not been designated within sixty (60) days after
                the
                original PRINCIPAL INVESTIGATOR ceases his or her services under
                this
                AGREEMENT, either party may terminate this AGREEMENT upon written
                notice
                to the other party, subject to the provisions of ARTICLE
                9.

            


    

    


    
      	
              3.

            	
              TERM
                OF AGREEMENT

            


    

    


    
      	 	
              3.1.

            	
              The
                term of this AGREEMENT shall begin on the EFFECTIVE DATE of this
                AGREEMENT
                and shall end on February 2, 2007 unless terminated sooner pursuant
                to
                Sections 2.2, 9.1 or 9.2 hereof. This AGREEMENT may be extended or
                renewed
                only by mutual written agreement executed by duly authorized
                representatives of the parties.

            


    

    



    
      
         

      

      
        1

        
          

        

      

      
         

      

    


    
      	4.	
              REIMBURSEMENT
                OF COSTS, PAYMENT

            


    

    


    
      	 	
              4.1.

            	
              SPONSOR
                shall reimburse DREXEL for all direct and indirect costs incurred
                in the
                conduct of the SPONSORED RESEARCH in an amount not to exceed the
                total
                amount of $174,990 as set forth in Attachment A. SPONSOR acknowledges
                that
                this amount is a good faith estimate only and not a guarantee of
                the cost
                to conduct the SPONSORED RESEARCH. If at any time DREXEL determines
                that
                it will require additional funds for the SPONSORED RESEARCH, it shall
                notify SPONSOR and provide an estimate of the additional amount.
                SPONSOR
                shall not be responsible for any costs in excess of the amount of
                $174,990
                as set forth in Attachment A unless it has agreed in writing to provide
                additional funds.

            


    

    


    
      	 	
              4.2.

            	
              SPONSOR
                shall make payments to DREXEL in accordance with the payment schedule
                set
                forth in Attachment A. All payments are to be made by check payable
                in
                United States dollars, to "Drexel University", and sent to the address
                in
                Section 11.4.

            


    

    


    
      	 	
              4.3.

            	
              Title
                to any equipment, laboratory animals, or any other materials made
                or
                acquired with funds provided under this AGREEMENT shall vest in DREXEL,
                and such equipment, animals, or materials shall remain the property
                of
                DREXEL following termination of this
                AGREEMENT

            


    

    


    
      	
              5.

            	
              RECORDS
                AND REPORTS

            


    

    


    
      	 	
              5.1

            	
              PRINCIPAL
                INVESTIGATOR shall maintain records of the results of the SPONSORED
                RESEARCH and shall provide SPONSOR with reports of the progress and
                results of the SPONSORED RESEARCH in accordance with Attachment A.
                DREXEL
                shall maintain records of the use of the funds provided by SPONSOR
                and
                shall make such records available to SPONSOR upon reasonable notice
                during
                DREXEL's normal business hours, but not more frequently than once
                each
                calendar year.

            


    

    


    
      	 	
              5.2

            	
              In
                order to preserve the patentability of DREXEL INTELLECTUAL PROPERTY,
                SPONSOR shall maintain DREXEL INTELLECTUAL PROPERTY and information
                provided pursuant to Section 6.1 (whether oral or written) as confidential
                and shall not disclose such information to any third party except
                with
                DREXEL's prior written approval.

            


    

    


    
      	
              6.

            	
              RECORDS
                AND REPORTS

            


    

    


    
      	 	
              6.1

            	
              PRINCIPAL
                INVESTIGATOR shall provide to DREXEL and SPONSOR a complete written
                disclosure of any DREXEL INTELLECTUAL PROPERTY reasonably considered
                patentable. SPONSOR shall advise DREXEL in writing, no later than
                thirty
                (30) days after receipt of such disclosure, whether it requests DREXEL
                to
                file and prosecute patent applications related to such DREXEL INTELLECTUAL
                PROPERTY. If SPONSOR does not request DREXEL to file and prosecute
                such
                patent applications, DREXEL may proceed with such preparation and
                prosecution at its own cost and expense; but such patent applications
                shall be excluded from SPONSOR's option under ARTICLE
                7.

            


    

    


    
      	 	
              6.2

            	
              DREXEL
                shall control the preparation and prosecution of all patent applications
                and the maintenance of all patents related to DREXEL INTELLECTUAL
                PROPERTY. SPONSOR shall reimburse DREXEL upon receipt of invoice
                for all
                documented expenses incurred in connection with the filing and prosecution
                of the patent applications and maintenance of the patents that SPONSOR
                has
                requested DREXEL to prosecute under Section
                6.1.

            


    


    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    


    
      	 	
              6.3

            	
              The
                preparation, prosecution, and maintenance of copyright, trademark
                and
                other intellectual property applications for the DREXEL INTELLECTUAL
                PROPERTY shall be subject to the provisions of Section
                6.1.

            


    

    


    
      	 	
              6.4

            	
              DREXEL
                shall retain all right, title and interest in and to the DREXEL
                INTELLECTUAL PROPERTY and any patents, copyrights and other intellectual
                property protections related
                thereto.

            


    

    


    
      	 	
              6.5

            	
              Rights
                to inventions, improvements and/or discoveries, whether patentable
                or
                copyrightable or not, relating to SPONSORED RESEARCH made solely
                by
                employees of SPONSOR using SPONSOR's facilities shall belong to
                SPONSOR.

            


    

    


    
      	 	
              6.6

            	
              Rights
                to inventions, improvements and/or discoveries relating to SPONSORED
                RESEARCH, whether or not patentable or copyrightable, which were
                made
                jointly during the performance of this AGREEMENT by the PRINCIPAL
                INVESTIGATOR or other inventors owing a duty to assign to DREXEL
                and by
                employees of SPONSOR shall belong jointly to DREXEL and to SPONSOR.
                Such
                inventions, improvements, and/or discoveries shall be subject to
                the terms
                and conditions of this AGREEMENT.

            


    

    


    
      	
              7.

            	
              OPTION

            


    

    


    
      	 	
              7.1.

            	
              In
                consideration of SPONSOR’S funding of the SPONSORED RESEARCH and payment
                for intellectual property expenses as provided for in Article 6, 
                DREXEL grants SPONSOR a first option to negotiate to acquire a
                royalty-bearing license to practice DREXEL INTELLECTUAL PROPERTY.
                DREXEL
                and SPONSOR will negotiate in good faith to determine the terms of
                a
                license agreement as to each item of DREXEL INTELLECTUAL PROPERTY
                for
                which SPONSOR has agreed to make payment for intellectual property
                expenses as provided for in Article 6. If SPONSOR and DREXEL fail
                to
                execute a license agreement within six one ((6) months1) year after
                disclosure of the DREXEL INTELLECTUAL PROPERTY to SPONSOR or if SPONSOR
                fails to make payment for intellectual property expenses as provided
                for
                in Article 6, DREXEL shall be free to license the DREXEL INTELLECTUAL
                PROPERTY to any party upon such terms as DREXEL deems appropriate,
                without
                any further obligation to SPONSOR. If mutually agreed upon, SPONSOR
                may
                request in writing a 6 month extension to this time
                frame.

            


    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    


    
      	 	
              7.2.

            	
              Any
                license granted to SPONSOR pursuant to Section 7.1 hereof shall be
                subject, if applicable, to the rights of the United States government
                reserved under Public Laws 96-517, 97-256 and 98-620, codified at
                35
                U.S.C. 200-212, and any regulations issued
                thereunder.

            


    

    


    
      	
              8.

            	
              PUBLICATION,
                USE OF NAME

            


    

    


    
      	 	
              8.1.

            	
              DREXEL
                shall be free to publish the results of the SPONSORED RESEARCH; a
                copy of
                each publication will be provided to
                SPONSOR.

            


    

    


    
      	 	
              8.2.

            	
              DREXEL
                shall not use SPONSOR's name without SPONSOR's prior written consent
                except that DREXEL may acknowledge SPONSOR's funding of the SPONSORED
                RESEARCH in scientific publications and in listings of sponsored
                research
                projects. SPONSOR shall not use DREXEL's name, or the name of any
                trustee,
                officer, faculty member, student or employee thereof, without DREXEL's
                prior written consent.

            


    

    


    
      	
              9.

            	
              TERMINATION

            


    

    


    
      	 	
              9.1.

            	
              In
                addition to the termination right set forth in Section 2.2 hereof,
                either
                party may terminate this AGREEMENT effective upon written notice
                to the
                other party, if the other party breaches any of the terms or conditions
                of
                this AGREEMENT fails to cure such breach within thirty (30) days
                after
                receiving written notice of the breach. In the event of an incurable
                breach, the non-breaching part may terminate this AGREEMENT effective
                immediately upon written notice to the breaching
                party.

            


    

     

    
      	 	
              9.2.

            	
              In
                addition, either party may terminate this AGREEMENT for any reason
                upon
                ninety (90) days prior written notice to the other
                party.

            


    

     

    
      	 	
              9.3.

            	
              In
                the event of termination of this AGREEMENT prior to its stated term,
                whether for breach or for any other reason whatsoever, DREXEL shall
                be
                entitled to retain from the payments made by SPONSOR prior to termination
                DREXEL's reasonable costs of concluding the work in progress. Allowable
                costs include, without limitation, all costs or noncancellable commitments
                incurred prior to the receipt, or issuance, by DREXEL of the notice
                of
                termination, and the full cost of each employee, student and faculty
                member supported hereunder through the end of such commitments. In
                the
                event of termination, DREXEL shall submit a final report of all costs
                incurred and all funds received under this AGREEMENT within sixty
                (60)
                days after the effective termination date. The report shall be accompanied
                by a check in the amount of any excess of funds advanced over costs
                and
                allowable commitments incurred. In case of a deficit of funds, SPONSOR
                shall pay DREXEL the amount needed to cover costs and allowable
                commitments incurred by DREXEL under this
                AGREEMENT.

            


    

    



    
      
         

      

      
        4

        
          

        

      

      
         

      

    


    
      	
            	9.4.	
              Termination
                of this AGREEMENT shall not affect the rights and obligations of
                the
                parties accrued prior to termination. The provisions of ARTICLE 6,
                entitled INTELLECTUAL PROPERTY; ARTICLE 7, entitled OPTION, ARTICLE
                10,
                entitled DISCLAIMER OF WARRANTIES, INDEMNIFICATION; and ARTICLE 11,
                entitled ADDITIONAL PROVISIONS, shall survive
                termination.

            


    

    


    
      	
              10.

            	
              DISCLAIMER
                OF WARRANTIES, INDEMNIFICATION

            


    

    


    
      	 	
              10.1

            	
              DREXEL
                MAKES NO WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER,
                INCLUDING, WITHOUT LIMITATION, WARRANTIES WITH RESPECT TO THE CONDUCT,
                COMPLETION, SUCCESS OR PARTICULAR RESULTS OF THE SPONSORED RESEARCH,
                OR
                THE CONDITION, OWNERSHIP, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR
                PURPOSE OF THE SPONSORED RESEARCH OR ANY DREXEL INTELLECTUAL PROPERTY.
                DREXEL SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL,
                PUNITIVE OR OTHER DAMAGES SUFFERED BY SPONSOR OR ANY OTHER PERSON
                RESULTING FROM THE SPONSORED RESEARCH OR THE USE OF ANY DREXEL
                INTELLECTUAL PROPERTY PRODUCT.

            


    

    


    
      	 	
              10.2

            	
              SPONSOR
                shall defend, indemnify and hold harmless DREXEL, the PRINCIPAL
                INVESTIGATOR and any of DREXEL's faculty, students, employees, trustees,
                officers, affiliates and agents (hereinafter referred to collectively
                as
                the "INDEMNIFIED PERSONS") from and against any and all liability,
                claims,
                lawsuits, losses, damages, costs or expenses (including attorneys'
                fees),
                which the INDEMNIFIED PERSONS may hereafter incur, or be required
                to pay
                as a result of SPONSOR's use of the results of SPONSORED RESEARCH
                or any
                DREXEL INTELLECTUAL PROPERTY or as a result of any breach of this
                AGREEMENT or any act or omission of SPONSOR, its employees, affiliates,
                contractors, licensees or agents. DREXEL shall notify SPONSOR upon
                learning of the institution or threatened institution of any such
                liability, claims, lawsuits, losses, damages, costs and expenses
                and
                DREXEL shall cooperate with SPONSOR in every proper way in the defense
                or
                settlement thereof at SPONSOR's request and
                expense.

            


    

    


    
      	
              11.

            	
              ADDITIONAL
                PROVISIONS

            


    

    


    
      	
            	11.1	
              No
                rights hereunder may be assigned by SPONSOR, directly or by merger
                or
                other operation of law, without the express written consent of DREXEL.
                Any
                prohibited assignment of this AGREEMENT or the rights hereunder shall
                be
                null and void. No assignment shall relieve SPONSOR of responsibility
                for
                the performance of any accrued obligations which it has prior to
                such
                assignment.

            


    

    


    
      	 	
              11.2

            	
              A
                waiver by either party of a breach or violation of any provision
                of this
                AGREEMENT will not constitute or be construed as a waiver of any
                subsequent breach or violation of that provision or as a waiver of
                any
                breach or violation of any other provision of this
                AGREEMENT.

            


    

    


    
      	 	
              11.3

            	
              Nothing
                herein shall be deemed to establish a relationship of principal and
                agent
                between DREXEL and SPONSOR, nor any of their agents or employees,
                nor
                shall this AGREEMENT be construed as creating any form of legal
                association or arrangement which would impose liability upon one
                party for
                the act or failure to act of the other party. Nothing in this AGREEMENT,
                express or implied, is intended to confer on any person other than
                the
                parties hereto or their permitted assigns, any benefits, rights or
                remedies.

            


    


    
      
         

      

      
        5

        
          

        

      

      
         

      

    


    
      	
            	11.4	
              Notices,
                payments, statements, reports and other communications under this
                AGREEMENT shall be in writing and shall be deemed to have been received
                as
                of the date dispatched if sent by public overnight courier (e.g.,
                Federal
                Express) and addressed as follows:

            


    

    


        

    
      
        	 If to DREXEL: 	 with a copy to:
	 	 
	
                 Margaret
                  Vigiolto

              	 Office of the General
                Counsel
	
                 Associate
                  Vice Provost

              	 Drexel University
	
                 Drexel
                  University

              	 3201 Arch Street, Suite
                100
	
                 3201
                  Arch Street, Suite 100

              	 Philadelphia, PA 19104
	
                 Philadelphia,
                  PA 19104

              	 


      

    

     

     

    
      
        
          	 If to SPONSOR:	 
	 	 
	
                   Michael
                    McLaren

                	 
	
                   CEO

                	 
	
                  W2
                    Energy Inc

                	 
	
                   26
                    Densley Ave Toronto

                	 
	
                   Ontario
                    M6M 2R1

                	 


        

      

       

    

     

    
      	 	
              11.5

            	
              This
                AGREEMENT shall be construed and governed in accordance with the
                laws of
                the Commonwealth of Pennsylvania, without giving effect to conflict
                of law
                provisions. The parties hereby submit to the exclusive jurisdiction
                of and
                venue in any state or federal courts located within the Eastern District
                of Pennsylvania with respect to any and all disputes concerning the
                subject of this AGREEMENT.

            


    

    


    
      	 	
              11.6

            	
              DREXEL
                and SPONSOR shall not discriminate against any employee or applicant
                for
                employment because of race, color, sex, sexual preference, age, religion,
                national origin, disability, or because he or she is a disabled veteran
                or
                veteran of the Vietnam Era.

            


    

    


    
      	 	
              11.7

            	
              Neither
                party shall be liable for any failure to perform as required by this
                AGREEMENT to the extent such failure to perform is due to circumstances
                reasonably beyond such party's control, including, without limitation,
                labor disturbances or labor disputes of any kind, accidents, failure
                of
                any governmental approval required for full performance, civil disorders
                or commotions, acts of aggression, acts of God, energy or other
                conservation measures imposed by law or regulation, explosions, failure
                of
                utilities, mechanical breakdowns, material shortages, disease, or
                other
                such occurrences.

            


    

    


    
      	 	
              11.8

            	
              SPONSOR
                shall comply with all laws, regulations and other legal requirements
                applicable to SPONSOR in connection with this AGREEMENT, including
                but not
                limited to any legal requirements applicable to SPONSOR's use of
                the
                results of the SPONSORED RESEARCH or any DREXEL INTELLECTUAL PROPERTY
                and
                laws controlling the export of technical data, computer software,
                laboratory prototypes, and all other export controlled
                commodities.

            


    

    


    
      	 	
              11.9

            	
              This
                AGREEMENT embodies the entire understanding between the parties relating
                to the subject matter hereof and supersedes all prior understandings
                and
                agreements, whether written or oral. This AGREEMENT may not be varied
                except by a written document signed by duly authorized representatives
                of
                both parties.

            


    

    


     


    
      
         

      

      
        6

        
          

        

      

      
         

      

    


    IN
      WITNESS WHEREOF, the duly authorized
      representatives of the parties hereby execute this AGREEMENT as of the date
      first written above.


    


     

    


    
      	 DREXEL UNIVERSITY 	 	 	 W2 Energy Inc. 
	 	 	 	 
	 By: 	 	 	 By: 
	 	 	 	 
	 Name:
              /s/Margaret Vigiolto 	 	 	 Name: /s/Michael
              McLaren 
	 	 	 	 
	Title: Assoc. Vice Provost
              for
              Research	 	 	Title: CEO
	 	 	 	 
	 Date: 	 	 	 Date:





    


    


    I
      have
      read and agreed to
      the
      responsibilities of the
      PRINCIPAL INVESTIGATOR:

    


    By:                            
Date:

    


    


    


    


    


     

    


     

    


    


    


    


    


    


     


    
      
         

      

      
        7

        
          

        

      

      
         

      

    


    Attachment
      A


     

    Summary
      of SPONSORED RESEARCH

     

    PLASMA
      ASSISTED CONVERSION OF BIOMASS TO LIQUID FUEL

    


     

    Work
      Scope

     

    


    
      	 	
              1)

            	
              Thermodynamic
                and kinetic analysis. Analysis will be made for possible processes
                (with
                different feedstock, but mostly with peat as a simulation substance
                for
                dried sewage sludge) from the standpoints of thermodynamics, chemical
                kinetics, desirable product composition and acceptable energy spending.
                Several promising feedstock compositions will be selected for further
                study. Processes includes conversion of feedstock into syn-gas with
                desirable composition H2:CO
                = 2:1; into acetylene C2H2,
                ethane C2H4
                and methane CH4.

            


    

     

    
      	 	
              2)

            	
              Development
                of two experimental setups for experimental study and optimization
                of the
                selected processes. 

            


    

    
      	 	
              a)

            	
              Modified
                Thermogravimetric Analyzer (MTGA). Available TA Instruments
                Thermogravimetric Analyzer Q600 SDT with 0.1 μg sensitivity and a
                temperature range from ambient to 1500°C will be modified to measure
                reaction rate of the condensed particles of a selected feedstock
                composition at various gas temperatures with and without plasma.
                A
                dielectric-barrier discharge plasma generator, which does not change
                gas
                temperature, will be mounted inside the Analyzer to activate a stream
                of
                air, O2
                or
                H2
                molecules which will react with particle
                surface.

            


    

    


    This
      MTGA
      together with the chemical analysis methods will be used for process fundamental
      study and optimization.

    
      	 	
              b)

            	
              Gliding
                Arc Tornado (GAT) reactor for the technological process development.
                This
                system will be based on our earlier successfully developed system
                for
                methane conversion. This GAT reactor should be installed in the system
                with powder (ash) collection and gas analysis. Study of the process
                using
                this laboratory setup will allow us to make the next step to the
                pilot
                plant development.

            


    

    
      	 	
              3)

            	
              Experimental
                study and analysis of results. Two types of experiments will be
                conducted:

            


    

    
      	 	
              a)

            	
              Biomass
                oxidation and hydrolysis in MTGA

            


    

    
      
        	
              	b)	
                Biomassconversion
                  in GAT 

              


      

    

    


    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    


    
      	 	
              4)

            	
              Development
                of technical requirements and preliminary design of the Pilot
                plant

            


    

     

    
      Project
        Timetable

      
        	
                Task
                  \ Month

              	
                1

              	
                2

              	
                3

              	
                4

              	
                5

              	
                6

              	
                7

              	
                8

              	
                9

              	
                10

              	
                11

              	
                12

              
	
                1.
                  Thermodynamic and kinetic analysis 

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                2.
                  Development of experimental setups 

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                2.2.
                  Modified Thermo-Gravimetric Analyzer (MTGA)

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                2.3.
                  Modification and improvement of GAT rig for condensed matter conversion
                  study

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                3.
                  Experimental study and analysis of results 

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                3.1.
                  Biomass oxidation and hydrolysis in MTGA

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                3.2.
                  Biomass conversion in GAT

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                4.
                  Development of technical requirements and preliminary design of
                  the Pilot
                  plant

              	 	 	 	 	 	 	 	 	 	 	 	 


      

    

     

    


    PRINCIPAL
      INVESTIGATOR 
      Alexander Fridman

    CO-PRINCIPAL
      INVESTIGATOR 
      Alexander Gutsol

    


    Representative
      of SPONSOR

    


    1)
      Name: Michael
      McLaren  

    


    2)
      Phone
      Number: 416-246-1100  

    


    


    Period
      of Performance  

    


    February
      3, 2006 - February 2, 2007

    


     

    Report
      Schedule

    


    Progress
      report - August 2, 2006

    Final
      report - February 2, 2007

    


     

     

     

     

     

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    Budget

     

    
      	
              Plasma
                Conversion of Biomass

            	 	 
	
              PROPOSAL
                BUDGET:December 1, 2005 - November 30, 2006

            	
               

            
	
              Yearly
                % Increase in Salaries

            	
              4%

            	 
	
              Fringe
                Benefit Rate

            	
              26.8%

            	 
	
              Indirect
                Cost Rate

            	
              50.0%

            	 
	 	
              Year
                01

            	
              Total

            
	
              Principal
                Investigator (Prof. Alexander Fridnan):

            	 	 
	
              1
                m
                (Summer)

            	
              16,000

            	
              16,000

            
	
              0%
                (Fall, Winter, Spring)

            	
              0

            	
              0

            
	
              Co-Principal
                Investigator (Research Prof. Alexander Gutsol):

            	
               

            
	
              0%
                (Summer)

            	
              16,000

            	
              16,000

            
	
              Technician
                

            	 	 
	
              1
                (12 month appt.)

            	
              13,000

            	
              13,000

            
	
              Subtotal

            	
              45,000

            	
              45,000

            
	
              Benefits
                @ 26.8%

            	
              12,060

            	
              12,060

            
	
              Part-time
                Wages

            	
              0

            	
              0

            
	
              Research
                Assistants (Salary):

            	 	
               

            
	
              1
                (12 month appt.)

            	
              19,000

            	
              19,000

            
	
              Total
                Personnel

            	
              76,060

            	
              76,060

            
	
              Miscellaneous

            	
              0

            	
              0

            
	
              Publications
                

            	
              0

            	
              0

            
	
              Telephone/Communications
                

            	
              0

            	
              0

            
	
              Travel
                (Domestic)

            	
              4,000

            	
              4,000

            
	
              Travel
                (Foreign)

            	
              4,000

            	
              4,000

            
	
              Supplies

            	
              16,100

            	
              16,100

            
	
              Purchased
                Services (eq. manufacturing)

            	
              16,500

            	
              16,500

            
	
              Consultant

            	
              0

            	
              0

            
	
              Subcontract
                < $25K

            	
              0

            	
              0

            
	
              Participant
                Support

            	
              0

            	
              0

            
	
              Computer
                Use

            	
              0

            	
              0

            
	
              Modified
                Total Direct Cost

            	
              116,660

            	
              116,660

            
	 	 	
               

            
	
              Indirect
                @ 50%

            	
              58,330

            	
              58,330

            
	 	 	
               

            
	
              Research
                Assistants (Tuition):

            	 	
               

            
	
              1
                (12 month appt.)

            	
              0

            	
              0

            
	
              Equipment

            	
              0

            	
              0

            
	
              Subcontract
                > $25K

            	
              0

            	
              0

            
	
              Total
                Project Cost

            	
              174,990

            	
              174,990

            
	 	 	 
	
              Total
                Sponsor Funding

            	
              174,990

            	
              174,990

            


    

     

    Invoice
      and Payment Schedule: Monthly
      invoice

     

    10