Document:

CONFIDENTIAL

TELEFAX                                           ORGANIC POWER

To: Ocean Power                  From:   Ole Wiborg
Attn: Nr. Joseph P. Maceda       Pages:
Fax:  00 1 (916) 933-8177        Date:  20. December 2000
Project:

Subject: Memorandum of Understanding

While  we  appreciate  your  'no  nonsense',  direct  approach  to form a common
memorandum of  understanding  we  nevertheless  feel it being  appropriate to be
slightly  room  specific  with  regard to item 2 in your  fax.  (Item 1 and 3 we
register and have no  comments).  A due  diligence  process costs both money and
time  for  us  both  so  let  us  be  certain  we  have  a  sufficiently  common
understanding of our goals.

Our initial idea  suggests that Ocean power offer to purchase - say - 10% to 20%
of outstanding Organic Power stock from existing  shareholders.  Valuation to be
agreed.

Then Organic Power ASA will issue stock to Ocean Power up to an amount that will
increase  Ocean  Powers  total  interest  in  Organic  Power  to  50%  of  total
outstanding stock [

As a third step,  shareholders of the remaining 50% of Organic Power stock (that
Ocean Power does not hold) will have an option  (within a agreed  timeframe)  to
convert  their  remaining  Organic Power stock into Ocean Power stock at a fixed
price.  The reason  behind this is that while a  full-blown  merger in many ways
make sense,  we in Organic power are now  experiencing  a major brake through in
the marketplace with several  reference  installations  in place,  while we feel
Ocean  Power will  remain in a  technological  development  stage for still some
time. The marketing process does after all represent a significant risk factor.

In addition,  we believe a number of our smaller  shareholders  and shareholding
employees  will welcome a  possibility  (option) to convert  their Organic Power
stock into a liquid (and Nasdaq quoted) Ocean Power stock as soon as they get to
know your company and you as management a bit better.

Our Board of  Directors  is not  prepared to move on for a full blown  merger at
this  stage.  A 50%  ownership  interest  by Ocean  Power will be hard enough to
negotiate.  As such, we believe the above (rough) model has a reasonable  chance
to succeed.

A formal  decision  on a  transaction  as  outlined  above  will be  subject  to
acceptance by a general shareholders meeting in Organic Power AS&

Sincerely yours Organic Power ASA, Oslo

By: /s/ Ole C. Wiborg
---------------------
        Ole C. Wiborg

<PAGE>Ocean Power                                                                 Memo

Date: 15 November, 2000

To:   Olga Johnson

From: JP Maceda

Re.   Draft MOU/EEM

Dear Olga,

This note is to confirm our  understanding  that Ocean Power and EEM will expand
their   cooperation   beyond  the   initially   agreed  upon  area  of  seawater
desalination.

Ocean Power will now work with EEM to develop a more  broadly  based  program to
exploit a wider  range of  applications  for EEM's  technologies  in the general
areas of water and gas monitoring.

The  intent of this MOU is to  develop a business  plan for the  application  of
EEM's  technologies  to a wide range of markets.  Ocean Power will assist in the
development  of this plan and will  participate  in the resultant  business in a
mutually agreeable manner.

Ocean Power will disclose this to the public in the following manner:

"Ocean  Power has signed an MOU with EEM to develop a broader  range of uses for
EEM's real-time gas anal water analysis technologies. These technologies are now
being applied to a wide range of applications for both environmental  monitoring
and  process   control.   This  will  support  Ocean  Power's  efforts  in  both
desalination and power generation."

If this is acceptable, please acknowledge your acceptance below.

Sincerely,

By: /s/ JP Maceda,
------------------
        JP Maceda
        President

Accepted by: /s/ Olga Johnson
-----------------------------
                 Olga Johnson

<PAGE>EXHIBIT 10.14

                        Memorandum of Understanding (MOU)
                                     between
             Battelle Memorial Institute, Pacific Northwest Division
                                       and
                             Ocean Power Corporation

A. Purpose
   -------

The purpose  of this  Memorandum  of  Understanding  (hereinafter  "MOU") is to
establish a collaborative  relationship  between  Battelle  Memorial  Institute,
Pacific Northwest Division (hereinafter 'Battelle"), and Ocean Power Corporation
(hereinafter "Ocean Power").  The goal of this MOU is to facilitate the parties'
evaluation of ozone generators that were developed by Kharkiv Physical Technical
Institute  ("KIPT") under a contract  between  Battelle and KIPT,  funded by the
U.S.  Department of Energy (DOE) Initiatives for Proliferation  Prevention (IPP)
Program.

B. Activities
   ----------

1. Under  the  terms of a (1)  Non-Disclosure  Agreement  between  the  parties,
   effective  August 4, 2000 and (i1) Government  Furnished  Property  Agreement
   between  the  parties,  effective  October  6, 2000,  Battelle  will ship and
   deliver to Ocean Power three (3) ozone generators developed by KIPT.

2. Ocean Power will develop  field tests to  determine  the efficacy of the KIPT
   ozone generators in various commercial applications.

3. Battelle will provide to Ocean Power all KIPT reports and any other pertinent
   documents related to the KIPT ozone generators, subject to KIPT's approval,

4. Ocean Power will test the KIPT ozone  generators over a two (2) month period,
   which shall  begin upon their  receipt of the ozone  generators.  Ocean Power
   will then provide Battelle with a written  evaluation and data within one (1)
   month after Ocean Powers completion of such tests.

5. Battelle will review the written  evaluation and data provided by Ocean Power
   and will develop a path forward,  which may include a Thrust II project under
   the IPP Program,   an IPP CRADA,  license  negotiations  compatible  with the
   licensing terms of the IPP Program, or other business arrangement between the
   parties.

<PAGE>

C. Expenses
   --------

Each party shall bear its own costs incurred in performance of this MOU,  unless
other  arrangements are agreed to in writing by the parties.  This MOU shall not
be used by either party to obligate or commit funds.

D. Intellectual Property
   ---------------------

No rights of any kind  whatsoever in any invention,  copyright,  trade secret or
any other  form of  intellectual  property  (collectively  defined  as "IP") are
granted or transferred under this MOU.

E. No Additional Commitments
   -------------------------

This MOU is not intended to limit or restrict activities of any sector, business
unit, division,  subsidiary or affiliate of the parties. Other organizations may
be invited to participate through a subcontract or other arrangement with either
of the parties in pursuing the activities described in this MOU.

Nothing  contained in this MOU is intended to preclude either party from quoting
and  offering for sale,  or from selling to others,  any item or service that it
may otherwise offer for sale now and In the future.

F. No Agency
   ---------

This MOU is not intended to directly or  indirectly  constitute,  create or give
effect  to,  or  otherwise  imply a  joint  venture,  corporation,  partnership,
contract or any form of formal  business  entity,  other than the  collaborative
relationship set forth herein. Each party to this MOU will act as an independent
contractor.  Neither party to this MOU is intended to have, or is granted by the
other party,  any  authority  or control over the other party,  nor shall either
party have the power to bind the other party.  Nothing  contained in this MOU is
intended  to be  construed  as  providing  for the  sharing of profits or losses
arising from the efforts of either of the parties hereto.

G. Publicity and Publications
   --------------------------

Press releases, media announcements,  and advertising by the parties, pertaining
to this MOU, or the activities hereunder,  shall be mutually approved in writing
by the parties  prior to release.  The Battelle name and Battelle logo shall not
be used without the express prior written consent of Battelle.

<PAGE>

H. Points of Contact
   -----------------

Primary points of contact between the Parties under this MOU are as follows.
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
<S>              <C>                                <C>
Regular          Ocean Power Corporation            Battelle, Pacific Northwest Division
Mail             ATTN: Robert Campbell              ATTN: Patricia Godoy-Kain
(POC)            500 Robert J. Mathews Parkway      Mailstop K8-46
                 El Dorado Hills, CA 95762          P.O. Box 999
                                                    Richland, WA 99352
----------------------------------------------------------------------------------------
Over-            same as above                      Battelle, Pacific Northwest Division
night                                               ATTN, Patricia Godoy-Kain
Delivery                                            Mailstop K8-16
(POC)                                               902 Battelle Blvd.
                                                    Richland, WA 99352
----------------------------------------------------------------------------------------
Phone            (916) 933-8100                     (509) 372-4320
----------------------------------------------------------------------------------------
Facsimile        (916) 933-8177                     (509) 372-4316
----------------------------------------------------------------------------------------
E-Mail           rlcampbell@powerco.com             patricia.godoy-kain@pni.gov
----------------------------------------------------------------------------------------
</TABLE>

I. Term of MOU
   -----------

This MOU may be  terminated  at any time by  either  party for any  reason  upon
written  notice to the other party.  The MOU will  automatically  expire six (6)
months from the effective  date of this MOU,  unless  extended by written mutual
consent.  The  effective  date of this MOU shall be the date signed by the party
loot  signing  this MOU.  All  modifications  to this MOU will be in writing and
signed by both parties,

This MOU constitutes the only agreement between the parties,  and represents the
entire agreement on this subject.

Battelle Memorial Institute                   Ocean Power Corporation
Pacific Northwest Division

By: /s/ Karen L. Hoewing                      By: /s/ J. Michael Hopper
------------------------                      -------------------------

Printed Name: Karen L. Hoewing                Printed Name: J. Michael Hopper

Title:  Contracting-Officer                   Title:  (illegible)

Date:   October 11, 2000                      Date:   October 12, 2000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00029-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00029-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00029-of-00352.parquet"}]]