Document:

Exhibit
10.31

 

 

     

     

    

 

THIS
RESEARCH AND DEVELOPMENT AGREEMENT is made the 22th of September 2016

 

BETWEEN

 

	(A)	PACIFIC
                                         GREEN TECHNOLOGIES CHINA LIMITED, a Hong Kong registered limited liability company
                                         with its registered office at 301-303, 3/F, Golden Gate Commercial Building, 136-138 Austin
                                         Road, Tsim Sha Tsui, Kowloon, Hong Kong (“PGTCC”)

 

AND

 

	(B)	POWERCHINA
                                         SPEM LIMITED COMPANY, a company incorporated in the Peoples Republic of China having
                                         its registered address at 80 Hangdu Road, Shanghai, China 201316 (“SPEM”)

 

Collectively
referred to as the “Parties”

 

WHEREAS

 

	(1)	PGTC
                                         owns the rights to patented emission control systems including ENVI-CleanTM,
	 	 
	(2)	PGTC
                                         and SPEM have entered into a joint venture partnership to market, fabricate and install
                                         ENVI-CleanTM emission control technologies in the Peoples Republic of China,
	 	 
	(3)	The
                                         partnership will complete the installation of an ENVI-CleanTM system at the
                                         Lianxin Steel Group Plant in Yancheng China by November 30, 2016.
	 	 
	(4)	Following
                                         commissioning the members of the partnership wish to conduct testing on the installed
                                         system for the purposes of researching the limiting emission control efficiencies for
                                         both flue gas desulphurization (“FGD”) and particulate matter (“Dust”)
                                         and develop the optimum operating parameters to minimize OPEX for this and future installations,
	 	 
	(5)	The
                                         parties have agreed to develop a comprehensive Quality Assurance Project Plan (“QAPP”)
                                         to ensure that the research and development program undertaken at Lianxin Steel Group
                                         Plant is conducted according to a technically valid plan using established and regulatory
                                         agency accepted protocols and procedures.
	 	 
	(6)	PGTC
                                         and SPEM have mutually agreed to enter into a Research and Development Program.

 

IT
IS AGREED

 

	1.	DEFINITIONS AND INTERPRETATION

 

	1.1	The following terms shall have the following meanings:

 

	Term	Shall mean the term of this Agreement described
    in Clause 2;

 

	Force
    Majeure	Shall mean any event affecting the performance of any
provision of this Agreement arising from or attributable to acts, events, omissions or accidents which are beyond the reasonable
control of a party including, without limitation, any abnormally inclement weather, flood, lightning, storm, fire, explosion,
earthquake, subsidence, structural damage, epidemic or other natural physical disaster, failure or shortage of power supplies,
war, military operations, riot, crowd disorder, strike, lock-outs or other industrial action, terrorist action, civil commotion
and any legislation, regulation, ruling or omissions of any relevant government, court or any competent national or international
authority;

 

    	 	2	 

     

    

 

	1.2	The singular includes the plural and vice versa.

 

	1.3	The clause headings do not form part of this
    Agreement and should not be taken into account in its construction or interpretation.

 

	1.4	References in this Agreement to the Schedule
    are to the Schedule to this Agreement.

 

	2.	TERM AND APPOINTMENT

 

	2.1	This Agreement shall
    have effect for one year from the acceptance of the ENVI-Clean TM system by Lianxin Steel Group.

 

	3.	PAYMENT AND CONSIDERATION

 

	3.1	The consideration
    for SPEM’s services, PGTC has agreed to a fee of *RME1 ;050,000 to be paid as US$ 160,198 on each of the
    3 month and 6 month anniversaries from the date of acceptance of the system.

 

	4.	ASSIGNMENT, CONFIDENTIALITY & SEVERABILITY

 

	4.1	Neither party may
    assign any of its rights or obligations under this Agreement without the prior written consent of the other party, such consent
    not to unreasonably withheld or delayed providing that neither party is detrimentally affected by the assignment.
	 	 
	4.2	The parties acknowledge
    that the contents, in particular the financial details of this Agreement are confidential and neither party will disclose
    any information concerning the terms of this Agreement without the prior written consent of the other except as required by
    law or as reasonably necessary for the operation of this Agreement.
	 	 
	4.3	Should any provision
    of this Agreement be considered void or voidable under any applicable law, such provision shall to the extent required be
    severed or amended in such a manner as to render the rest of this Agreement valid or enforceable, unless the whole commercial
    object is thereby frustrated.

 

	5.	ENTIRE AGREEMENT AND WAIVER

 

	5.1	This Agreement contains the entire agreement of the
parties with respect to the subject matter of this Agreement,
	 	 
	5.2	This Agreement may only be varied by the written agreement
of both parties,
	 	 
	5.3	A waiver by either party of a breach of any term or
condition of this Agreement in any one instance shall be in writing, and shall not be deemed as a continuing waiver or a waiver
of any subsequent breach unless so provided by written notice.

 

    	 	3	 

     

    

 

	6.	FORCE MAJEURE

 

Should
either party’s obligations under this Agreement be materially hampered, interrupted or interfered with by reason of any
Event of Force Majeure, then the obligations of that party shall be suspended during the period of such hampering, interference
or interruption consequent upon such event or events and shall be postponed for a period of time equivalent to the period or periods
of suspension, and the parties will use their best commercial endeavors to minimize and reduce any period of suspension occasioned.

 

	7.	NO PARTNERSHIP, GOVERNING LAW & ANNOUNCEMENTS

 

	7.1	Nothing contained
    in this Agreement shall be deemed to alter the terms of the joint venture partnership between the parties.
	 	 
	7.2	This Agreement shall
    be governed by and construed in all respects in accordance with the laws of the Peoples Republic of China and each party hereby
    submits to the exclusive jurisdiction of the Chinese arbitration or courts.
	 	 
	7.3	Neither party shall
    make (and the parties shall ensure that no person connected with them shall make) any public statement, issuance or announcement
    about the signature of this Agreement without the prior written approval of the other party except as required by law or by
    any legal authority.

 

IN
WITNESS whereof the parties have duly executed this Agreement the day and year first above written.

 

	Authorized
    for and on behalf of

    PACIFIC GREEN TECHNOLOGIES CHINA. LIMITED

 

	 	/s/ Alex Shead
	 	Alex Shead, CEO Asia

 

	For
        and on behalf of 

        POWERCHINA
        SPEM LIMITED COMPANY
	 	
	 	Name:
    	 
	 	Title:	 

 

 

 

4Exhibit 10.32

 

 

    

     

    

 

WESTMINSTER
PRODUCTS AND SERVICES PURCHASE AGREEMENT

 

THIS
AGREEMENT is dated October 20, 2016.

 

BETWEEN:

 

	(1)	PACIFIC
    GREEN TECHNOLOGIES, INC., a company incorporated in the Delaware USA and having its registered office at 5208 Prospect
    Road, San Jose, CA.

 

and

 

	(2)	PACIFIC
    GREEN TECHNOLOGIES MARINE LIMITED, a
    company incorporated in England and Wales having a registered office address as 2-6 Cannon Street, London, England EC4M 6YH.
    (the "Purchaser")

 

and

 

	(3)	POWERCHINA
    SPEM COMPANY LIMITED, a company incorporated in the Peoples Republic of

 

China
whose office address is 80 Hang Du Road, Pudong, New Area Shanghai, China. (the `Vendor")

 

WHEREAS:

 

A.       The
Vendor is a Company duly registered and incorporated in the Peoples Republic of China with offices and operations in Shanghai.
PRC.

 

B.       The
Purchaser is a Company duly registered and incorporated in England and Wales having offices in London, England.

 

C.       The
Vendor has agreed to sell and the Purchaser has agreed to purchase (the "Transaction") the products and services required
to complete an ENVI-MarineTm Flue Gas Desulphurization system as specified by the Purchaser and listed in section 1.3 upon the
terms and conditions of this agreement (the "Agreement"). The vendor has to deliver the system to Dakar, Senegal according
to the Purchaser's instruction by March 1st

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of the covenants and agreements herein contained and such other good
and valuable consideration (the receipt and sufficiency of which is acknowledged by ail of the parties), the parties hereto do
covenant and agree each with the other as follows:

 

1.       Purchase
and Sale

 

1.1       Purchase.
Subject to the terms of this Agreement, the Vendor hereby agrees to sell the products and services specified in
section 1.3 and the Purchaser agrees to purchase the listed products and services for a total purchase price of RMB 7,506,568
(the "Purchase Price"), which is USD 1,083,000 in terms of payment.

 

1.2       Payment.
The Purchase Price for the listed products and services shall be made

 

according
to the following schedule:

 

	 	a)	Upon signing contract	30%
	 	 	 	 
	 	b)	Upon final specification	20%
	 	 	 	 
	 	c)	Upon delivery to the Port of Shanghai	40%
	 	 	 	 
	 	d)	14 days following installation and commissioning	10%

 

    2

    

    

 

1.3       Products
and Services. The following list of products and services as specified by the Purchaser that have been fabricated,
procured or provided by the Vendor.

 

 

	PRODUCTS DESCRIPTION	 	RMB	 
	SCRUBBER	 	 	670,000	 
	HEAD	 	 	20,000	 
	PBM	 	 	43,000	 
	NOZZLES	 	 	5,000	 
	MIST ELIMINATOR	 	 	8,000	 
	INSTRUMENTS	 	 	52,070	 
	VALVES	 	 	217,600	 
	EXPANSION JOINT	 	 	28,000	 
	FRP GRID	 	 	2,654	 
	SS PIPE	 	 	539,281	 
	CABLES	 	 	78,745	 
	SPARES	 	 	101,991	 
	STRAINER	 	 	29,400	 
	WATER PROCESSING COMPONENTS	 	 	2,721,231	 
	ELECTRICAL CONTROLS /	 	 	1,837,500	 
	SUB-TOTAL PRODUCTS	 	 	6,359,472	 

 

	SERVICES	 	RMB	 
	DESIGN AND ENGINEERING	 	 	300,000	 
	INSTALLATION AND COMMISSIONING	 	 	120,000	 
	PROJECT MANAGEMENT	 	 	520,771	 
	SHIPPING	 	 	206,325	 
	SUB-TOTAL SERVICES (RMB)	 	 	1,147,096	 
	PROJECT TOTAL	 	 	7,506,568	 

 

2.       Covonants

 

2.
1     Approval by American Bureau of Shipping ("ABS") all materials selected for use in the manufacture
and assembly of products are to be supplied by ABS certified suppliers and are to bear ABS certification stamps and or certificates
from the supplier.

 

2.2
     Inspection by American Bureau
of Shipping All materials, products and assemblies are to be inspected by ABS
and bear ABS approval stamps as required.

 

    3

    

    

 

3.       Representations
and Warranties

 

3.
1     the Vendor represents and warrants to the Purchaser that:

 

(a)       the
Vendor is, and will remain during the term of this Agreement, qualified to manufacture and procure the products and services and
sub-assemblies as specified by the Purchaser;

 

(b)       the
Vendor has good and sufficient rights and authority to enter into this Agreement and carry out its obligations hereunder; and

 

(c)       the
Vendor has, and will have at the time delivery, good and sufficient rights and authority to transfer their legal and beneficial
title and ownership of the system products and services then being acquired by the Purchaser free and clear of all trade restrictions,
liens, charges and encumbrances of any kind whatsoever.

 

3.2       The
representations and warranties of the Vendor contained in this Agreement shall be true at the time of delivery and
will continue to survive the purchase and sale contemplated herein.

 

3.3       the
Purchaser represents and warrants to the Vendor that:

 

(a)       the
Purchaser is capable of fulfilling the economic commitments made to the Vendor regarding the purchase of the system
products and services.

 

3.4       The
representations and warranties of the Purchaser contained in this Agreement shall be true at the time of delivery and
will continue to survive the purchase and sale contemplated herein.

 

4.       Completion

 

4.1       Completion
Arrangements. Subject to the terms and conditions of this Agreement, the completion of the transaction
contemplated hereunder shall be upon delivery of the system listed in section 1.3 to the Port of Shanghai or other such FOB
destination alternatively agreed to by the Parties or at such other time, date and place as the Purchaser and the Vendor
agree in writing.

 

4.2       Delivery
of Payment by Purchaser At each scheduled payment date, the Purchaser shall deliver to the Vendor:

 

(a)       Funds
by wire transfer or other method of payment acceptable to the Vendor as payment for the amount due toward the full
Purchase Price.

 

    4

    

    

 

5.       General

 

5.1       Further
Assurances. The parties hereto do hereby mutually covenant and agree to execute such further documents and
instruments and do all such further acts and things as may be necessary for the purpose of completing the sale and purchase
of the system products and services and otherwise implementing the terms of this Agreement.

 

5.2       Time
of the Essence. Time is of the essence of this Agreement

 

5.3       Fntire
Agreement. This Agreement constitutes the entire Agreement between the parties hereto in respect of the matters
referred to herein and there are no representations, warranties, covenants or agreements, expressed or implied, collateral
hereto other than as provided for herein. The recitals to this Agreement constitute a part of this Agreement.

 

5.4       Amendments
in Writing Only. No alteration, amendment, modification or interpretation of this Agreement or any provision of
this Agreement shall be valid and binding upon the parties hereto unless such alteration, amendment, modification or
interpretation is in written form executed by both of the parties hereto.

 

5.5       No
Assignment. This Agreement may not be assigned by the Purchaser without the consent of the Vendor.

 

5.6       Governing
Law. This Agreement shall be construed, interpreted and enforced in accordance with, and the respective rights and
obligations of the parties shall be governed by the laws of the Peoples Republic of China. The Parties commit to resolving
any dispute by friendly negotiation or to submit to having the dispute arbitrated by Shanghai Arbitration Committee.

 

5.7       Counterparts. This
Agreement may be executed in any number of counterparts, each of which will be deemed to be an original and all of
which will together constitute one and the same instrument. Delivery of an executed copy of this Agreement by facsimile
or other means of electronic communication producing a printed copy will be deemed to be execution and delivery of this
Agreement.

 

IN
WITNESS WHEREOF the parties hereto have hereunto set their hands and seals as of the date first above written.

 

	S.F. Poulter	     
	 
	For and on behalf of Pacific Green Technologies, Inc.
	 	SIGNATURE
	 	 
	S.F. Poulter	     
	 
	For and on behalf of Pacific Green Technologies Marine Limited
	 	SIGNATURE

 

	Name:	DU
    YANGFAN	 	 
	 	 	 	 SIGNATURE
	POSITION:	Supervisor
    of International Projects	 	

 

Authorized
Signatory For and on behalf of:

POWERCHINA
SPEM COMPANY LIMITED

 

 

5

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