Document:

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                                                                   Exhibit 10.14

                                LICENSE AGREEMENT

THIS AGREEMENT is made the 8th day of November, 2004, between:

ECOLOGY COATINGS, INC., a corporation organized and existing under the laws of
the State of California, USA, with its principal place of business at 1238
Brittain Road, Akron, Ohio 44310, USA (hereinafter referred to as "Ecology"),

and

E. I. DU PONT DE NEMOURS AND COMPANY, a corporation organized and existing under
the laws of the State of Delaware, USA, with its principal place of business at
1007 Market Street, Wilmington, Delaware 19898, USA (hereinafter referred to as
"DuPont").

WHEREAS:

A.   Ecology has developed certain 100% solids UV curable pigmented and clear
     paint coating compositions for the automotive metal treatment market and as
     a result possesses certain technical information and patent rights relating
     to the manufacture and use of such coatings.

B.   DuPont wishes to acquire a non-exclusive license to use such patents and
     technical information and Ecology is willing to grant such a license on the
     terms and conditions hereinafter appearing.

NOW, THEREFORE, in consideration of the mutual understandings and obligations
herein set forth, the Parties agree as follows:

1.   DEFINITIONS

     As used in this Agreement:

     "Effective Date" means the date on which this Agreement has been signed by
     both Parties hereto.

     "Party" means DuPont or Ecology depending on the context, and "Parties"
     means DuPont and Ecology.

     "Agreement Products" means only the exact formulations listed in Appendix A
     attached hereto, which may be amended from time to time by mutual agreement
     of the Parties, and any Improvements thereof which are (a) conceived,
     developed or made using any of the Ecology Technical Information (including
     any information derived from the Ecology Technical Information), or (b)
     covered by one or more claims of an Ecology Patent, subject, however, to
     the understanding that, for purposes of computing royalties, Agreement
     Products do not include any formulations or any improvements thereof, that
     are not covered by one or more claims of an Ecology Patent and either (i)
     were already known to DuPont or a DuPont Affiliate at the Effective Date of
     this Agreement from a

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     source other than Ecology, as shown by DuPont's or the Affiliate's prior
     written records, or (ii) are developed by or for DuPont or a DuPont
     Affiliate without use of or reference to and independently of any
     information obtained from Ecology, by persons who have not had access to
     any information obtained from Ecology.

     "Agreement Field" means the Automotive Metal Treatment Market.

     "Automotive Metal Treatment Market" means the application of paint, resin
     and other coating materials over metal substrates used as components in the
     manufacture of automotive vehicles, including but not limited to
     automobiles and trucks.

     "Ecology Technical Information" means all know-how, trade secrets, and
     other information at Ecology's free disposal at the Effective Date and up
     to the fifth (5th) anniversary of the Effective Date relating to the use
     and manufacture of the Agreement Products set forth on Appendix A and
     Ecology's Improvements thereof, including detailed formulations and
     manufacturing specifications and testing instruments, as well as
     instructions for the application and final testing and approval of such
     Agreement Products and information relevant to any customer approvals for
     such Agreement Products.

     "Ecology Patents" means any patents, including Improvement Patents, in The
     Territory, granted to or applied for by Ecology with respect to Agreement
     Products or the manufacture or use thereof. Current Ecology Patents as of
     the Effective Date are listed in Appendix B, which shall be kept updated
     during the term of this Agreement.

     "The Territory" means North America, i.e., the U.S.A., Canada and Mexico.

     "Affiliate" means any company or other enterprise under the direct or
     indirect control of a Party hereto through direct or indirect ownership of
     (i) at least 40% of its shares provided that the Party also has the right
     to direct or control the technology and products of the company or other
     enterprise, or (ii) at least 50% of its shares, for so long as such
     ownership and (in the case of (i) above) control exists.

     "Net Selling Price" for purposes of computing royalties, means two hundred
     percent (200%) of DuPont's raw material costs for the Agreement Product.

     "Improvement Patents" means any patents in The Territory granted to or
     applied for by Ecology with respect to Ecology's Improvements or the use
     and manufacture of Ecology's Improvements.

     "Improvements" shall mean any of the following modifications made to the
     Agreement Products set forth on Appendix A: (a) use of isomeric forms of
     the monomers included in the Agreement Products set forth on Exhibit A, (b)
     use of chemical modifications to the monomers included in the Agreement
     Products set forth on Exhibit A that would be obvious to a person
     reasonably skilled in the art in order to improve properties such as, by
     way of example only, flow, leveling, anti-blocking, and defect prevention,
     (c) use of additives and fillers that would be obvious to a person
     reasonably skilled in the art in order to improve properties such as, by
     way of example only, flow, leveling, anti-blocking, and defect prevention,
     (d) use of acrylate as a substitute for methacrylate or

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     vice versa, and/or (e) direct substitution of one oligomer for another, or
     one monomer for another, or a different form of photoinitiator, while
     leaving the rest of the formula intact; and any modifications to the method
     of manufacture or use of any of the foregoing that would be obvious to a
     person reasonably skilled in the art.

2.   LICENSE GRANT

2.1  Ecology hereby grants to DuPont a non-exclusive royalty-bearing right and
     license, with the right to sublicense DuPont Affiliates, to use the Ecology
     Technical Information and Ecology Patents to make, have made, use, offer
     for sale, and sell Agreement Products in The Territory for use solely
     within the Agreement Field.

2.2  Ecology also grants DuPont or any sublicensed Affiliate the right to grant
     its customers, under the Ecology Patents, immunity from suit to use such
     Agreement Products solely within the Agreement Field.

3.   HANDOVER OF ECOLOGY TECHNICAL INFORMATION

3.1  As soon as practical after the Effective Date of this Agreement (the
     Parties envision thirty (30) days for delivery), Ecology or its designee
     shall transmit to DuPont written copies, in the English language, of all
     Ecology Technical Information in the possession of Ecology that is
     necessary for the manufacture, use and sale of the Agreement Products, and
     shall transmit to DuPont, from time to time, any additional Ecology
     Technical Information that is necessary for the manufacture, use and sale
     of Agreement Products and Ecology's Improvements thereof, which Ecology has
     developed or which Ecology has acquired with a right to further disclose,
     up to the fifth (5th) anniversary of the Effective Date of this Agreement.
     DuPont is entitled to use any such Ecology Technical Information that may
     be provided, according to the terms of the license granted in Article 2
     above, without payment of an additional fee other than the royalties set
     forth in Article 5 below.

3.2  Ecology Technical Information for Agreement Products shall at least include
     all documents or information listed in Appendix C of this Agreement.

3.3  Each disclosure of Ecology Technical Information shall be documented by a
     record of issue which is to be signed by both Ecology and DuPont.

4.   TECHNICAL ASSISTANCE

4.1  Up to the fifth (5th) anniversary of the Effective Date of this Agreement,
     Ecology shall receive into its facilities, members of DuPont's technical
     staff for the purpose of consultation on matters relating to the
     interpretation of the Ecology Technical Information. The timing and
     duration of such visits and the numbers of personnel to be received shall
     be reasonable and shall be mutually agreed. DuPont will be responsible for
     all out-of-pocket expenses of DuPont arising from such visits including
     travel and subsistence expense. DuPont will not be responsible for expenses
     of Ecology in connection with such visits.

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4.2  Ecology will, if so requested by DuPont and provided the exigencies of its
     own business permit and that staff is available, send suitably qualified
     members of its technical staff to advise DuPont on the production of
     Agreement Products at DuPont's factory or laboratories in The Territory.
     The number of Ecology personnel making such visits and the timing and
     duration of their visits shall be reasonable and shall be mutually agreed
     but shall not in any event exceed ten (10) man/days in any year up to the
     fifth (5th) anniversary of the Effective Date of this Agreement. DuPont
     shall be responsible for all out-of-pocket expenses in connection with such
     visits including reasonable travel and living expenses. In the event that
     DuPont requests additional assistance in the form of visits of Ecology
     personnel over and above ten (10) man/days then Ecology will consider such
     request and if such assistance is provided DuPont shall pay to Ecology in
     addition to all expenses in connection with such visits including travel
     and living expenses, a fee equivalent to Ecology's "charge-out" rate to
     third parties at the time for such personnel, the current rate being One
     Thousand Dollars ($1,000.00) per man/day. Such payment and payments for
     Ecology personnel's travel and living expenses which are to be reimbursed
     by DuPont according to the terms of this Article will be made within thirty
     (30) days after the date of Ecology's invoice therefor.

4.3  Any information conveyed during the provision of technical assistance by
     Ecology, whether verbally, in writing, by inspection of samples, equipment,
     or facilities, or otherwise, shall be considered to be Ecology Technical
     Information under this Agreement, provided that such information if it is
     presented in writing by Ecology is clearly marked as Ecology Technical
     Information and if it is disclosed verbally or visually is identified as
     confidential at the time of disclosure, and subsequently outlined in
     writing, confirmed as confidential, and provided to DuPont within thirty
     (30) days of the disclosure.

5.   ROYALTIES

5.1  In consideration of the rights and licenses granted to it hereunder, DuPont
     agrees to pay Ecology, for a period of fifteen (15) years after the
     commercial sale of an Agreement Product, a running royalty of (a) 5% of the
     Net Selling Price of all Agreement Products manufactured and used or sold
     by DuPont or a licensed DuPont Affiliate for any products which have
     received at the Effective Date automotive manufacture approvals, or (b) 3%
     of the Net Selling Price of all Agreement Products manufactured and used or
     sold by DuPont or a licensed DuPont Affiliate for any products which are
     based on identical formulations as the approved products above but which
     require new approvals, or (c) 2 1/2% of the Net Selling Price of all
     Agreement Products manufactured and used or sold by DuPont or a licensed
     DuPont Affiliate for any modified products which require new approvals.
     Royalties shall cease beyond the fifteen (15) year period specified above
     unless DuPont is operating under any issued Ecology Patent(s) in which case
     royalties continue for the life of the last-to-expire of such Ecology
     Patent(s).

5.2  The running royalties payable hereunder shall be calculated quarterly.
     DuPont shall report in writing to Ecology within thirty (30) days after the
     end of each calendar quarter the quantities of each Agreement Product
     subject to royalties hereunder that were used, sold or transferred by
     DuPont or any sublicensee during said quarter and the calculation

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     of the royalties thereon. With each report DuPont shall pay to Ecology the
     total amount of the said royalties that are due. If no product subject to
     fee hereunder has been made, used, sold or transferred by DuPont or any
     sublicensee during any such period, DuPont shall so report in writing to
     Ecology within thirty (30) days after the end of such period. All payments
     shall be made in U.S. Dollars payable in cleared funds to such bankers as
     Ecology directs. If any currency conversion shall be required in connection
     with the calculation of royalties hereunder, such conversion shall be made
     by using the average exchange rates in effect for purchase of U.S. Dollars
     published by The Wall Street Journal on the last business day of each
     calendar month in the calendar quarter for which such royalties are due. It
     is understood that the amounts to be paid hereunder shall be reduced by the
     amount of any foreign withholding, value-added or other tax. Ecology shall
     accept the resulting net payment as due performance under this Agreement.
     Any amounts not paid when due shall bear interest at the rate of one and
     one-half percent (1 1/2%) per month or, if less, the maximum amount
     permitted by applicable law.

5.3  DuPont shall keep, and shall require each sublicensee, if any, to keep,
     adequate records in sufficient detail to enable the fees payable to Ecology
     hereunder to be determined. Said records shall be maintained for a period
     of three (3) years following submission of the report to which such records
     pertain. Upon thirty (30) days' prior written notice by Ecology, DuPont
     shall permit said records to be inspected, and employees of DuPont
     associated with performance under this Agreement to be interviewed, at
     Ecology's expense, at any time during regular business hours by an
     independent auditor appointed by Ecology, and reasonably acceptable to
     DuPont. The auditor shall determine and report to Ecology only the amount
     of the payments due and details concerning any underreporting, as well as
     adherence to any other requirements under the Agreement. If such audit
     discloses any underreporting, DuPont shall immediately pay Ecology such
     underreported amount along with interest calculated pursuant to the terms
     set forth herein. If the audit determines an underpayment in excess of five
     percent (5%), DuPont shall also reimburse Ecology for the cost of the
     audit.

6.   OPTION TO NEGOTIATE FUTURE LICENSES

6.1  DuPont and Ecology agree that the licenses granted herein may be extended,
     based on each Party's respective business circumstances, to additional
     territories and additional non-exclusive or exclusive fields and such
     extensions would only become effective upon the written approval of both
     DuPont and Ecology.

7.   NON-COMPETE WITH DUPONT

7.1  For a period of three (3) years from the Effective Date of this Agreement,
     Ecology agrees not to itself sell directly or indirectly, Agreement
     Products for use in the Agreement Field in The Territory. DuPont
     understands and agrees that the foregoing does not prohibit Ecology
     granting any license to any third party for the Agreement Products in the
     Agreement Field in The Territory and otherwise.

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8.   REASONABLE EFFORTS

8.1  DuPont agrees that it will use every reasonable effort with the principal
     automotive manufacturers and automotive parts suppliers to develop a market
     for the sale of Agreement Products commercially to such manufacturers
     within two (2) years from the Effective Date. Ecology agrees that to this
     end it will make every reasonable assistance available to DuPont subject to
     the terms of Article 4. It should be understood, however, that neither
     Party warrants or guarantees that it will be successful in developing such
     a market for the Agreement Products and neither Party has any obligation to
     use or further develop the licensed property. DuPont promptly shall respond
     to any inquires from Ecology regarding its progress. Ecology may terminate
     this Agreement effective upon written notice to DuPont if DuPont has not
     commercially sold an Agreement Product within two (2) years after the
     Effective Date.

9.   INTELLECTUAL PROPERTY RIGHTS AND GRANT BACK

9.1  Ecology shall have the right to file, prosecute, and maintain all of the
     Ecology Patents licensed hereunder and shall have the right to determine
     whether or not, and where, to file a patent application, to abandon the
     prosecution of any patent or patent application, or to discontinue the
     maintenance of any patent or patent application.

9.2  All Improvements conceived, developed or made using any of the Ecology
     Technical Information by DuPont or an Affiliate shall belong to DuPont and
     the filing, prosecution and maintenance of any patent applications or
     patents relating to such Improvements ("DuPont's Improvement Patents")
     shall be solely within the discretion of DuPont. Nevertheless, DuPont
     agrees that it will grant a license, and hereby grants to Ecology a
     non-exclusive royalty-free right and license, under DuPont's Improvement
     Patents that cover Improvements that DuPont or an Affiliate has conceived,
     developed or made using any of the Ecology Technical Information up to the
     fifth (5th) anniversary of the Effective Date of this Agreement, to make,
     have made, use, offer for sale, and sell Improvements, with a right to
     grant sublicenses to any Ecology Affiliate or any of its other licensees
     provided that such other licensees have granted to Ecology the right to
     sublicense their patents covering Improvements to DuPont within the
     Agreement Field and Territory.

10.  SECRECY

10.1 As used in this Article, "Confidential Information" means (a) in the case
     of Ecology, the Ecology Technical Information or (b) in the case of both
     Parties, any information of the other Party disclosed pursuant to this
     Agreement, provided that such information if it is presented in writing by
     one Party to another Party hereunder is clearly marked as confidential and
     if it is disclosed verbally or visually is identified as confidential at
     the time of disclosure, and subsequently outlined in writing, confirmed as
     confidential, and provided to the receiving party within thirty (30) days
     of the disclosure.

10.2 Both Parties (a) shall keep secret and confidential all Confidential
     Information of the other Party, (b) shall disclose such Confidential
     Information only to those of its

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     employees or employees of its sublicensees, if any, or their agents to whom
     it is necessary to so disclose for the purpose contemplated by this
     Agreement, and (c) shall use Confidential Information of the other Party
     only as permitted pursuant to the terms of this Agreement. Any disclosure
     shall be limited to such employees and employees of its sublicensees, if
     any, or their agents who have previously agreed in writing to be bound by
     terms no less strict than the terms of this Agreement.

10.3 The foregoing provisions of this Article shall not apply to information
     that (a) is or becomes known to the public through no fault of the
     receiving Party; (b) is learned by the receiving Party from a third party
     entitled to disclose it; (c) was already known to the receiving Party at
     the time of disclosure by the disclosing Party, as shown by the receiving
     Party's prior written records; (d) is developed by or for the receiving
     Party independently of information obtained from the disclosing Party; or
     (e) the receiving Party is required to disclose Confidential Information
     received hereunder pursuant to a governmental or judicial process; provided
     that the receiving Party uses all reasonable commercial efforts to notify
     the disclosing Party in advance of, and to seek a protective order for,
     such Confidential Information. Confidential Information disclosed hereunder
     shall not be deemed to be within the foregoing exceptions merely because
     such information is embraced by more general knowledge in the public domain
     or in the receiving Party's possession. In addition, no combination of
     features shall be deemed to be within the foregoing exceptions merely
     because individual features are in the public domain or in the receiving
     Party's possession, unless the combination itself and its principle of
     operations are in the public domain or in receiving Party's possession.

10.4 The provisions of this Article shall remain in force for a period of
     fifteen (15) years from the date of receipt of the relevant information
     irrespective of any earlier termination of this Agreement. Notwithstanding
     the expiration of such fifteen (15) year term, in the event that at such
     time, any of the formulations or other Technical Information for the
     Agreement Products is still maintained by Ecology Coatings as a trade
     secret, and the value of such trade secret would be compromised by failure
     to maintain its confidentiality then Ecology Coatings may provide DuPont
     with written notice thereof, and in such event, DuPont may elect in writing
     to either (i) maintain the confidentiality of such Ecology Technical
     Information for an additional five (5) year period, or (ii) return to
     Ecology Coatings or destroy, and certify the return or destruction of, all
     such Technical Information and all copies thereof. In the event that DuPont
     elects option (i), then the foregoing procedure shall be repeated at the
     end of such five (5) year period.

10.5 Each Party agrees that the terms and conditions of this Agreement shall be
     treated as the other's Confidential Information; provided, however, that
     each Party may disclose the terms and conditions of this Agreement: (i) as
     required by any court or other governmental body; (ii) as otherwise
     required by law; (iii) to legal counsel of the Parties; (iv) in connection
     with the requirements of a public offering or securities filing; (v) in
     confidence, to accountants, banks, and financing sources and their
     advisors; (vi) in confidence, in connection with the enforcement of this
     Agreement or rights under this Agreement; or (vii) in confidence, in
     connection with a merger or acquisition or proposed merger or acquisition,
     or the like.

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10.6 Within six (6) months after the Effective Date, and from time to time
     thereafter, the Parties shall issue a mutually acceptable press release to
     announce this Agreement and activities under this Agreement (e.g., DuPont's
     commercial release of Agreement Products), provided that Ecology will not
     issue any press release without first obtaining DuPont's prior written
     consent. In addition, each Party may make appropriate and truthful
     reference to the other Party on its website and in written marketing and
     promotional materials; provided that (i) any use of the other Party's
     trademarks shall comply with such other Party's written guidelines
     therefore, and (ii) Ecology Coatings shall have no right to include a link
     to DuPont's website unless Ecology Coatings first executes DuPont's
     standard form of linking agreement.

11.  TERM AND TERMINATION

11.1 Except as otherwise specified, this Agreement shall take effect as of the
     Effective Date.

11.2 This Agreement, unless earlier terminated as provided hereinafter or in
     Article 8, shall automatically terminate on the fifteenth (15th)
     anniversary of its Effective Date or once the last to expire of the Ecology
     Patents or Improvement Patents licensed hereunder expires, whichever is the
     longer. Upon termination pursuant to Article 11.2, all rights and licenses
     granted hereunder shall be fully paid-up and irrevocable.

11.3 DuPont may terminate this Agreement at any time upon sixty (60) days'
     advance written notice to Ecology.

11.4 In the event of material breach of this Agreement, the Party not in breach
     may provide notice thereof to the Party in breach. The Party in breach
     shall have a sixty (60) day period, after receiving said notice, to correct
     the breach. If not corrected during said sixty (60) day period, the Party
     not in breach may terminate the Agreement by sending written termination
     notice to the Party in breach. Termination shall be effective upon receipt
     of said notice and is cumulative to other rights that the terminating Party
     may have arising from the breach.

11.5 DuPont may terminate this Agreement with immediate effect upon written
     notice to Ecology (i) upon the institution by or against Ecology of
     insolvency, receivership or bankruptcy proceedings or any other proceedings
     for the settlement of Ecology's debts which, if involuntary, is not
     dismissed within sixty (60) days, (ii) upon Ecology's making an assignment
     for the benefit of creditors, (iii) upon Ecology's dissolution.

11.6 Following termination of the Agreement pursuant to Article 11.3 or 11.4 or
     11.5, DuPont and any authorized party receiving Confidential Information
     transmitted by DuPont shall thereafter cease to use the Confidential
     Information disclosed by Ecology to DuPont and information derived
     therefrom including modifications and improvements as described above. All
     such Confidential Information and derivative information shall be returned
     to the Ecology, or be destroyed if the Ecology so authorizes, within thirty
     (30) days following termination. The foregoing provision of this Article
     shall apply to Ecology mutatus mutandis with respect to any Confidential
     Information disclosed by DuPont.

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11.7 Upon termination of the Agreement pursuant to Article 11.3 or 11.4 or 11.5,
     all licenses granted to DuPont and any sublicense granted by DuPont shall
     automatically terminate and DuPont shall so notify all sublicensees,
     providing a copy of such notice to Ecology. The foregoing provision of this
     Article shall apply to Ecology mutatus mutandis with respect to any
     sublicenses granted by Ecology except that sublicenses to non-Affiliates
     under Section 9.2 shall survive provided that the sublicense from such
     non-Affiliates to DuPont survives.

11.8 Termination of this Agreement shall not relieve DuPont of their obligation
     to pay running royalties which accrued prior to termination neither shall
     it relieve either Party of its obligations of secrecy under Article 10. In
     addition, the provisions of Articles 5.3, 9.2, 13.3 - 13.7 and 14 shall
     survive any termination.

12.  ASSIGNABILITY

12.1 This Agreement is personal to the Parties and is not assignable or
     otherwise transferable in whole or in part, by either Party without the
     express prior written consent of the other Party, except that each party
     may assign this Agreement without such consent to an entity that succeeds
     to all or substantially all of its business or assets, including by any
     merger or consolidation of the assigning Party or substantial change in
     ownership or control of the assigning Party's business.

13.  GENERAL

13.1 Ecology warrants that as of the date of signing it has not granted any
     license under the Ecology Technical Information to any other manufacturer
     of automotive coatings for the Automotive Metal Treatment Market in The
     Territory. Should Ecology ever wish to grant such a license for financial
     consideration more favorable than that provided to DuPont hereunder, under
     substantially similar terms and conditions, then Ecology shall promptly
     notify DuPont and DuPont may at its option, substitute such a more
     favorable financial consideration and other terms and conditions in their
     entirety for the financial consideration and other terms and conditions of
     this Agreement, effective as of the date of the grant to said third party.

13.2 Ecology warrants that so far as it is aware the exercise of the rights
     granted hereunder will not infringe the rights of any third party.

13.3 EXCEPT AS PROVIDED IN ARTICLE 13.1 AND 13.2, ECOLOGY MAKES NO
     REPRESENTATION, EXPRESS OR IMPLIED, AS TO THE AGREEMENT PRODUCTS, THE
     ECOLOGY TECHNICAL INFORMATION, OR THE VALIDITY OF ANY ECOLOGY PATENTS, AND
     ECOLOGY HEREBY DISCLAIMS ANY FURTHER WARRANTY, INCLUDING ANY WARRANTY OF
     MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR
     OTHER STATUTORY, IMPLIED, OR EXPRESS WARRANTY. DuPont shall indemnify and
     hold Ecology and its directors, officers and employees harmless from and
     against any and all liabilities, losses, costs and expenses arising out of
     or in connection with the manufacture, use, promotion, distribution or sale

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     of Agreement Products by DuPont or its sublicensed Affiliates; provided,
     however, that the foregoing obligations shall not apply to any liability or
     expense caused by negligent activities, reckless misconduct or intentional
     misconduct of Ecology.

13.4 Nothing herein contained shall be deemed to create a joint venture, agency
     or partnership relationship between the Parties hereto. Neither Party shall
     have any power to enter into any contracts or commitments in the name of,
     or on behalf of, the other Party, or to bind the other Party in any
     respect.

13.5 No grant of license, right or immunity is hereby granted save as expressly
     set forth herein.

13.6 This Agreement contains the entire agreement between the Parties with
     respect to its subject matter and supersedes all prior discussions and
     negotiations. The Agreement may only be modified by written agreement
     signed by each of the Parties' authorized representatives.

13.7 No failure or delay of any Party in exercising its rights under this
     Agreement shall be deemed to be a waiver of that right, and no waiver by
     any Party of a breach of any provision of this Agreement shall be deemed to
     be a waiver of any subsequent breach of the same or any other provision.

13.8 If any provision of this Agreement is held by any court or other competent
     authority to be invalid or unenforceable in whole or in part, the other
     provisions of this Agreement and the remainder of the affected provision
     shall continue to be valid.

14.  GOVERNING LAW

14.1 This Agreement is acknowledged to have been made and shall be construed in
     accordance with the laws of the State of Delaware, United States of
     America.

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15.  NOTICES

15.1 Any notice or other information concerning this Agreement shall be given by
     facsimile or prepaid registered post to all relevant Parties at the
     addresses shown above. The date of giving of such notice shall be the date
     such facsimile or posting was sent.

Signed by

/s/ LARRY C. CRAWLEY
------------------------------------------------
LARRY C. CRAWLEY              (NAME IN CAPITALS)
GLOBAL DIRECTOR TECHNOLOGY
DUPONT PERFORMANCE COATINGS   (POSITION)
November 8, 2004              (DATE)

for and on behalf of E. I. Du Pont de Nemours and Company

Signed by

/s/
------------------------------------------------
                              (NAME IN CAPITALS)
CEO/President                 (POSITION)
November 8, 2004              (DATE)

for and on behalf of Ecology Coatings Inc.

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                                   APPENDIX A
                        TO THE LICENSE AGREEMENT BETWEEN
                      E. I. DU PONT DE NEMOURS AND COMPANY
                           AND ECOLOGY COATINGS, INC.

Agreement Products:

     KS-5 - A urethane based coating that adheres to metals and many plastics.
     KS-5 is available in clear and pigmented versions. This coating shows
     excellent adhesion and features superior resistance to gasoline, boiling
     water, acid, and chipping, and particularly belt abrasion. It has a pencil
     hardness of at least 4H ASTM 3363 and passes hatch ASTM 3359 at 100%. In
     addition, this coating is highly flexible, allowing coated articles to be
     bent or crimped. This coating was initially developed for hardware and
     first applied to ordnance. Other applications include hardware and under
     hood automotive use.

     KS-5E - An epoxy based coating with excellent gloss, hardness, adhesion and
     chemical resistance. This coating is available in clear and pigmented
     versions. It features superior abrasion, gravel, and perspiration
     resistance, as well as the chemical resistance normally associated with
     epoxies. It is particularly adept .at adhesion to difficult substrates such
     as brass and chrome. This coating was initially developed for use on metal
     pipe. It also provides a hard coat of superior appearance and durability
     for items as diverse as oil filters and chrome locking lugs.

     KS-5N (N-1) - A urethane based coating incorporating nanoparticles provides
     extreme abrasion resistance. It has superior adhesion to metals and many
     plastics. It can withstand in excess of sixty liters of falling sand ASTM
     D968-81 and has 100% adhesion by ASTM 3359 after 24 hour water immersion.
     The coating is available in glossy or flat forms, in clear and pigmented
     versions. Due to its excellent performance in extreme environments, the
     under hood applications are limitless.

<PAGE>

                                   APPENDIX B
                        TO THE LICENSE AGREEMENT BETWEEN
                      E. I. DU PONT DE NEMOURS AND COMPANY
                           AND ECOLOGY COATINGS, INC.

ECOLOGY PATENTS

PATENT APPLICATIONS

APPLICATION # 10/771867 Application date 02/04/04
Summation
A process for applying an opaque, corrosion resistant, 100% solids, UV curable
finish to parts for under hood use in motor vehicles

APPLICATION # 10/799821 Application date 3/13/04
Summation
A composition of matter comprising UV curable materials incorporating
nanotechnology for the coating of fiberglass

APPLICATION # 10/872531 Application date 06/21/04
Summation
A composition of matter comprising UV curable material, photoinitiators,
fillers, and solid pigment dispersions

PROVISIONAL PATENT APPLICATIONS

APPLICATION # 60/549669 Application date 3/03/04
Summation
A process for coating propane tanks and similar articles with a 100% solids. UV
curable coating

APPLICATION # 60/551287 Application date 03/08/04
Summation
An opaque, corrosion resistant finishing, 100% solids composition for metal and
method of using same

APPLICATION # 60/556221 Application date 3/25/04
Summation
UV curable composition incorporating nanospheres, for the finishing of metals

APPLICATION # 60/557,074 Application date 3/26/2004
Summation
Radiation curable composition containing nanospheres, for the finishing of
metals and/or plastics

<PAGE>

APPLICATION # 60/562,884 Application date 4/16/2004
Summation
Radiation curable composition containing nanospheres, for the finishing of wood
Application

APPLICATION # 60/562875 Application date 4/16/04
Summation
Radiation curable composition containing nanospheres for the coating of glass
containers

PATENT APPLICATION SUBMISSION UNDERWAY

CONTINUATION IN PART OF SERIAL # 60/549,669 Application filed 3/3/2004
Summation
A composition of matter comprising UV curable materials, photoinitiators, solid
pigment dispersions and filler mixture for the coating of propane tanks and
similar articles

                                      -2-

<PAGE>

                                   APPENDIX C
                        TO THE LICENSE AGREEMENT BETWEEN
                      E. I. DU PONT DE NEMOURS AND COMPANY
                           AND ECOLOGY COATINGS, INC.

Ecology Technical Information shall consist of the following for all Agreement
Products:

     1)   Formulations

     2)   Raw material List

     3)   Manufacturing instructions

     4)   Testing instructions

     5)   Material safety data sheets

     6)   Customer approvals

Additional information can be provided on:

     i)   Customer listing, details, and contact information

     ii)  Specific quality assurance

     iii) List of raw material suppliers

     iv)  List of machinery for production

     v)   List of testing equipment<PAGE>

                                                                   Exhibit 10.15

                                LICENSE AGREEMENT

THIS AGREEMENT is made the 6th day of May, 2005, between:

ECOLOGY COATINGS, INC., a corporation organized and existing under the laws of
the State of California, USA, with its principal place of business at 1238
Brittain Road, Akron, Ohio 44310, USA (hereinafter referred to as "Ecology"),

and

RED SPOT PAINT & VARNISH CO., INC., a corporation organized and existing under
the laws of the State of Indiana, USA, with its principal place of business at
1107 East Louisiana Street, Evansville, Indiana 47711, USA (hereinafter referred
to as "Red Spot").

WHEREAS:

A.   Ecology has developed certain 100% solids UV curable pigmented and clear
     paint coating compositions for the metal cylinder treatment market and as a
     result possesses certain technical information, know how, trade secrets and
     patent rights relating to the manufacture and use of such coatings.

B.   Red Spot wishes to acquire an exclusive license to use such patents and
     technical information and Ecology is willing to grant such a license on the
     terms and conditions hereinafter appearing.

NOW, THEREFORE, in consideration of the mutual understandings and obligations
herein set forth, the Parties agree as follows:

1.   DEFINITIONS

     As used in this Agreement:

     "Effective Date" means the date on which this Agreement has been signed by
     both Parties hereto.

     "Party" means Red Spot or Ecology depending on the context, and "Parties"
     means Red Spot and Ecology.

     "Agreement Product" means only the exact formulation listed in Appendix A
     attached hereto, which may be amended from time to time by mutual agreement
     of the Parties, and any Improvements thereof which are (a) conceived,
     developed or made using any of the Ecology Technical Information (including
     any information derived from the Ecology Technical Information), or (b)
     covered by one or more claims of an Ecology Patent, subject, however, to
     the understanding that, for purposes of computing royalties, Agreement
     Product does not include any formulations or any improvements thereof, that
     either (i) were already known to Red Spot at the Effective Date of this
     Agreement from a source other than Ecology, as shown by Red Spot's prior
     written records, or (ii) are

<PAGE>

     developed by or for Red Spot without use of or reference to and
     independently of any information obtained from Ecology, by persons who have
     not had access to any information obtained from Ecology. Ecology
     acknowledges that Red Spot possesses 100% solids UV curable technology that
     are commercially available and under development that neither this existing
     technology, nor any improvements to the existing technology, are subject to
     this License Agreement so long as such improvements are developed without
     use of or reference to and independently of any information obtained from
     Ecology.

     "Agreement Field" means the Metal Cylinder Treatment Market.

     "Metal Cylinder Treatment Market" means the application of paint, resin and
     other coating materials over 20lb metal cylinders.

     "Ecology Technical Information" means all know-how, trade secrets, and
     other information at Ecology's free disposal at the Effective Date and up
     to the fifth (5th) anniversary of the Effective Date relating to the use
     and manufacture of the Agreement Product set forth on Appendix A and
     Ecology's Improvements thereof, including detailed formulations and
     manufacturing specifications and information regarding testing instruments,
     as well as instructions for the application and final testing and approval
     of such Agreement Product and information relevant to any customer
     approvals for such Agreement Product.

     "Ecology Patents" means any patents, including Improvement Patents, in The
     Territory, granted to or applied for by Ecology with respect to Agreement
     Product or the manufacture or use thereof. Current Ecology Patents as of
     the Effective Date are listed in Appendix B. Ecology shall notify Red Spot
     in writing with respect to any Ecology Patents, including Improvement
     Patents, granted or applied for by Ecology after the Effective Date with
     respect to Agreement Product or the manufacture or use thereof, and any
     such Ecology Patents shall, at the option of Red Spot, become subject to
     this Agreement, and Appendix B shall be updated to reflect the inclusion of
     such Ecology Patents in this Agreement.

     "The Territory" means North America, i.e., the U.S.A., Canada and Mexico.

     "Net Selling Price" for purposes of computing royalties, means the actual
     gross selling price less any discounts, refunds, credits, or bad debt.

     "Improvement Patents" means any patents in The Territory granted to or
     applied for by Ecology with respect to Ecology's Improvements or the use
     and manufacture of Ecology's Improvements.

     "Improvements" shall mean any of the following modifications made to the
     Agreement Product set forth on Appendix A during the term: (a) use of
     isomeric forms of the monomers included in the Agreement Product set forth
     on Exhibit A, (b) use of chemical modifications to the monomers included in
     the Agreement Product set forth on Exhibit A that would be obvious to a
     person reasonably skilled in the art in order to improve properties such
     as, by way of example only, flow, leveling, anti-blocking, and defect

                                      -2-

<PAGE>

     prevention, (c) use of additives and fillers that would be obvious to a
     person reasonably skilled in the art in order to improve properties such
     as, by way of example only, flow, leveling, anti-blocking, and defect
     prevention, (d) use of acrylate as a substitute for methacrylate or vice
     versa, and/or (e) direct substitution of one oligomer for another, or one
     monomer for another, or a different form of photoinitiator, while leaving
     the rest of the formula intact; and any modifications to the method of
     manufacture or use of any of the foregoing that would be obvious to a
     person reasonably skilled in the art.

2.   LICENSE GRANT

2.1  Ecology hereby grants to Red Spot an exclusive royalty-bearing right and
     license to use the Ecology Technical Information and Ecology Patents to
     make, have made, use, offer for sale, and sell Agreement Product in The
     Territory for use solely within the Agreement Field. In the event that Red
     Spot does not commercially release the Agreement Product within three (3)
     years after the Effective Date, or if at any time during the term Red Spot
     takes the Agreement Product off the market, then the foregoing license
     grant shall convert to non-exclusive. Red Spot promptly shall respond to
     any requests from Ecology regarding such funding status.

3.   HANDOVER OF ECOLOGY TECHNICAL INFORMATION

3.1  As soon as practical after the Effective Date of this Agreement (the
     Parties envision fifteen (15) days for delivery), Ecology or its designee
     shall transmit to Red Spot written copies, in the English language, of all
     Ecology Technical Information in the possession of Ecology that is
     necessary for the manufacture, use and sale of the Agreement Product, and
     shall transmit to Red Spot, from time to time, any additional Ecology
     Technical Information that is necessary for the manufacture, use and sale
     of Agreement Product and Ecology's Improvements thereof, which Ecology has
     developed or which Ecology has acquired with a right to further disclose,
     throughout the term of this Agreement. Red Spot is entitled to use any such
     Ecology Technical Information that may be provided, according to the terms
     of the license granted in Article 2 above, without payment of an additional
     fee other than the royalties set forth in Article 5 below.

3.2  Ecology Technical Information for Agreement Product shall at least include
     all documents or information listed in Appendix C of this Agreement.

3.3  Each disclosure of Ecology Technical Information shall be documented by a
     record of issue which is to be signed by both Ecology and Red Spot.

4.   TECHNICAL ASSISTANCE

4.1  Up to the fifth (5th) anniversary of the Effective Date of this Agreement,
     Ecology shall receive into its facilities, members of Red Spot's technical
     staff for the purpose of consultation on matters relating to the
     interpretation of the Ecology Technical Information. The timing and
     duration of such visits and the numbers of personnel to be received shall
     be reasonable and shall be mutually agreed. Red Spot will be responsible
     for all out-of-pocket expenses of Red Spot arising from such visits
     including travel and

                                      -3-

<PAGE>

     subsistence expense. Red Spot will not be responsible for expenses of
     Ecology in connection with such visits.

4.2  Ecology will, if so requested by Red Spot and provided the exigencies of
     its own business permit and that staff is available, send suitably
     qualified members of its technical staff to advise Red Spot on the
     production of Agreement Product at Red Spot's factory or laboratories in
     The Territory. The number of Ecology personnel making such visits and the
     timing and duration of their visits shall be reasonable and shall be
     mutually agreed but shall not in any event exceed ten (10) man/days during
     the first year or five (5) man/days in any following year up to the fifth
     (5th) anniversary of the Effective Date of this Agreement. In the event
     that Red Spot requests additional assistance in the form of visits of
     Ecology personnel over and above five (5) man/days then Ecology will
     consider such request and if such assistance is provided Red Spot shall pay
     to Ecology a fee equivalent to Ecology's "charge-out" rate to third parties
     at the time for such personnel, the current rate being One Thousand Dollars
     ($1,000.00) per man/day. Such payment, which is to be reimbursed by Red
     Spot according to the terms of this Article, will be made within thirty
     (30) days after the date of Ecology's invoice therefor.

4.3  Any information conveyed during the provision of technical assistance by
     Ecology, whether verbally, in writing, by inspection of samples, equipment,
     or facilities, or otherwise, shall be considered to be Ecology Technical
     Information under this Agreement, provided that such information if it is
     presented in writing by Ecology is clearly marked as Ecology Technical
     Information and if it is disclosed verbally or visually is identified as
     Ecology Technical Information at the time of disclosure, and subsequently
     outlined in writing, confirmed as Ecology Technical Information, and
     provided to Red Spot within thirty (30) days of the disclosure.

5.   ROYALTIES

5.1  In consideration of the rights and licenses granted to it hereunder, Red
     Spot agrees to pay Ecology, an initial payment of $125,000 on the Effective
     Date and thereafter quarterly payments commencing in August 2005 that are
     based on 15% of the Net Selling Price of all Agreement Products
     manufactured and used or sold by Red Spot from the prior quarter until an
     additional $375,000 has been paid to Ecology, for total maximum payments
     under this Article 5.1 of $500,000.

5.2  Red Spot also agrees to pay for a period of fifteen (15) years after the
     first commercial sale of the Agreement Product, a running royalty of (a) 7%
     of the Net Selling Price of all Agreement Products manufactured and used or
     sold by Red Spot. Royalties shall cease beyond the fifteen (15) year period
     specified above unless Red Spot is operating under any issued Ecology
     Patent(s) in which case royalties continue for the life of the
     last-to-expire of such Ecology Patent(s).

5.3  The running royalties payable under Section 5.2 and the quarterly payments
     payable under Section 5.1 shall be calculated quarterly. Red Spot shall
     report in writing to Ecology within thirty (30) days after the end of each
     calendar quarter the quantities of each Agreement Product subject to
     royalties hereunder that were used, sold or transferred

                                      -4-

<PAGE>

     by Red Spot during said quarter and the calculation of the royalties
     thereon. With each report Red Spot shall pay to Ecology the total amount of
     the said royalties that are due. If no product subject to fee hereunder has
     been made, used, sold or transferred by Red Spot during any such period,
     Red Spot shall so report in writing to Ecology within thirty (30) days
     after the end of such period. For Agreement Product that is used by Red
     Spot for commercial purposes, the average Net Selling Price for third party
     sales during the applicable quarter shall be used to calculate royalties
     due. All payments shall be made in U.S. Dollars payable in cleared funds to
     such bankers as Ecology directs. If any currency conversion shall be
     required in connection with the calculation of royalties hereunder, such
     conversion shall be made by using the average exchange rates in effect for
     purchase of U.S. Dollars published by The Wall Street Journal on the last
     business day of each calendar month in the calendar quarter for which such
     royalties are due. It is understood that the amounts to be paid hereunder
     shall be reduced by the amount of any foreign withholding, value-added or
     other tax. Ecology shall accept the resulting net payment as due
     performance under this Agreement. Any amounts not paid when due shall bear
     interest at the rate of 8% per annum or, if less, the maximum amount
     permitted by applicable law.

5.4  Red Spot shall keep adequate records in sufficient detail to enable the
     fees payable to Ecology hereunder to be determined. Said records shall be
     maintained for a period of three (3) years following submission of the
     report to which such records pertain. Upon thirty (30) days' prior written
     notice by Ecology, Red Spot shall permit said records to be inspected, and
     employees of Red Spot associated with performance under this Agreement to
     be interviewed, at Ecology's expense, at any time during regular business
     hours by an independent auditor appointed by Ecology, and reasonably
     acceptable to Red Spot. The auditor shall determine and report to Ecology
     only the amount of the payments due and details concerning any
     underreporting, as well as adherence to any other requirements under the
     Agreement. If such audit discloses any underreporting, Red Spot shall
     immediately pay Ecology such underreported amount along with interest
     calculated pursuant to the terms set forth herein. If the audit determines
     an underpayment in excess of ten percent (10%), Red Spot shall also
     reimburse Ecology for the cost of the audit.

6.   OPTION TO NEGOTIATE FUTURE LICENSES

6.1  Red Spot and Ecology agree that the licenses granted herein may be
     extended, based on each Party's respective business circumstances, to
     additional territories and additional non-exclusive or exclusive fields and
     such extensions would only become effective upon the written agreement of
     both Red Spot and Ecology.

7.   NON-COMPETE WITH RED SPOT

7.1  Ecology agrees not to sell, directly or indirectly, the Agreement Product
     for use in the Agreement Field in The Territory for so long as Red Spot (i)
     releases the Agreement Product within the first three (3) years after the
     Effective Date, and (ii) does not take the Agreement Product off the
     market.

                                      -5-

<PAGE>

8.   REASONABLE EFFORTS

8.1  Red Spot agrees that it will use every reasonable effort to develop a
     market for the sale of Agreement Product commercially within one (1) year
     from the Effective Date. Ecology agrees that to this end it will make every
     reasonable effort to assist Red Spot with Sales support and training prior
     to the market and sale of the Agreement Product commercially, as well as
     provide technical expertise to support the first two (2) system launches of
     the Agreement Product at Ecology's own expense. This assistance will be in
     addition to the assistance provided in Article 4, and without additional
     compensation to Ecology. It should be understood, however, that neither
     Party warrants or guarantees that it will be successful in developing such
     a market for the Agreement Product and neither Party has any obligation to
     use or further develop the licensed property. Red Spot promptly shall
     respond to any inquires from Ecology regarding its progress. Ecology may
     terminate this Agreement effective upon written notice to Red Spot if Red
     Spot has not commercially sold an Agreement Product within one (1) year
     after the Effective Date.

9.   INTELLECTUAL PROPERTY RIGHTS

9.1  Ecology shall have the right to file, prosecute, and maintain all of the
     Ecology Patents licensed hereunder and shall have the right to determine
     whether or not, and where, to file a patent application, to abandon the
     prosecution of any patent or patent application, or to discontinue the
     maintenance of any patent or patent application. In the event that Ecology
     abandons the prosecution of any patent or patent application, or
     discontinues the maintenance of any patent or patent application, then Red
     Spot shall have the right, in its sole discretion, and at Red Spot's
     expense, to continue the prosecution of any patent or patent application,
     and to continue the maintenance of any patent or patent application, in the
     name of and for and on behalf of Ecology, and for such purpose Ecology
     hereby appoints Red Spot or its designee as Ecology's attorney-in-fact,
     which appointment is coupled with an interest and is irrevocable. Ecology
     hereby agrees to take such further actions, and execute such instruments
     and documents, as Red Spot may from time to time request, in order to more
     fully effectuate the provisions of this paragraph and to provide Red Spot
     with any power or authority reasonably necessary to carry out the
     provisions of this paragraph.

9.2  All Improvements conceived, developed or made by Ecology and/or Red Spot
     using any of the Ecology Technical Information shall belong to Ecology and
     Red Spot hereby assigns all intellectual property rights in such
     Improvements to Ecology. Such Improvements shall be covered by the license
     grant in Section 2.1 above. Red Spot agrees to execute such documents as
     Ecology may request to effect the foregoing assignment. Alternatively, at
     Ecology's option, Red Spot shall grant, and hereby grants to Ecology, a
     non-exclusive, worldwide, perpetual, irrevocable, sublicensable license to
     such Improvements made by Red Spot.

10.  SECRECY

10.1 As used in this Article, "Confidential Information" means (a) in the case
     of Ecology, the Ecology Technical Information, or (b) in the case of both
     Parties, any information of the

                                      -6-

<PAGE>

     other Party disclosed pursuant to this Agreement, provided that such
     information if it is presented in writing by one Party to another Party
     hereunder is clearly marked as confidential and if it is disclosed verbally
     or visually is identified as confidential at the time of disclosure, and
     subsequently outlined in writing, confirmed as confidential, and provided
     to the receiving party within thirty (30) days of the disclosure.

10.2 Both Parties (a) shall keep secret and confidential all Confidential
     Information of the other Party, (b) shall disclose such Confidential
     Information only to those of its employees, if any, or their agents to whom
     it is necessary to so disclose for the purpose contemplated by this
     Agreement, and (c) shall use Confidential Information of the other Party
     only as permitted pursuant to the terms of this Agreement. Any disclosure
     shall be limited to such employees, if any, or their agents who have
     previously agreed in writing to be bound by terms no less strict than the
     terms of this Agreement.

10.3 The foregoing provisions of this Article shall not apply to information
     that (a) is or becomes known to the public through no fault of the
     receiving Party; (b) is learned by the receiving Party from a third party
     entitled to disclose it; (c) was already known to the receiving Party at
     the time of disclosure by the disclosing Party, as shown by the receiving
     Party's prior written records; (d) is developed by or for the receiving
     Party independently of information obtained from the disclosing Party; or
     (e) the receiving Party is required to disclose Confidential Information
     received hereunder pursuant to a governmental or judicial process; provided
     that the receiving Party uses all reasonable commercial efforts to notify
     the disclosing Party in advance of, and to seek a protective order for,
     such Confidential Information. Confidential Information disclosed hereunder
     shall not be deemed to be within the foregoing exceptions merely because
     such information is embraced by more general knowledge in the public domain
     or in the receiving Party's possession. In addition, no combination of
     features shall be deemed to be within the foregoing exceptions merely
     because individual features are in the public domain or in the receiving
     Party's possession, unless the combination itself and its principle of
     operations are in the public domain or in receiving Party's possession.

10.4 The provisions of this Article shall remain in force for a period of
     fifteen (15) years from the date of receipt of the relevant information
     irrespective of any earlier termination of this Agreement. Notwithstanding
     the expiration of such fifteen (15) year term, in the event that at such
     time, any of the formulations or other Technical Information for the
     Agreement Product is still maintained by Ecology Coatings as a trade
     secret, and the value of such trade secret would be compromised by failure
     to maintain its confidentiality then Ecology Coatings may provide Red Spot
     with written notice thereof, and in such event, Red Spot may elect in
     writing to either (i) maintain the confidentiality of such Ecology
     Technical Information for an additional five (5) year period, or (ii)
     return to Ecology Coatings or destroy, and certify the return or
     destruction of, all such Technical Information and all copies thereof. In
     the event that Red Spot elects option (i), then the foregoing procedure
     shall be repeated at the end of such five (5) year period.

10.5 Each Party agrees that the terms and conditions of this Agreement shall be
     treated as the other's Confidential Information; provided, however, that
     each Party may disclose the terms and conditions of this Agreement: (i) as
     required by any court or other

                                      -7-

<PAGE>

     governmental body; (ii) as otherwise required by law; (iii) to legal
     counsel of the Parties; (iv) in connection with the requirements of a
     public offering or securities filing; (v) in confidence, to accountants,
     banks, and financing sources and their advisors; (vi) in confidence, in
     connection with the enforcement of this Agreement or rights under this
     Agreement; or (vii) in confidence, in connection with a merger or
     acquisition or proposed merger or acquisition, or the like.

10.6 Within thirty (30) days after the Effective Date, and from time to time
     thereafter, the Parties shall issue a mutually acceptable press release to
     announce this Agreement and activities under this Agreement (e.g., Red
     Spot's commercial release of Agreement Products). In addition, each Party
     may make appropriate and truthful reference to the other Party on its
     website and in written marketing and promotional materials.

11.  TERM AND TERMINATION

11.1 Except as otherwise specified, this Agreement shall take effect as of the
     Effective Date.

11.2 This Agreement, unless earlier terminated as provided hereinafter or in
     Article 8, shall automatically terminate on the fifteenth (15th)
     anniversary of its Effective Date or once the last to expire of the Ecology
     Patents or Improvement Patents licensed hereunder expires, whichever is the
     longer. Upon termination pursuant to Article 11.2, all rights and licenses
     granted hereunder shall be fully paid-up and irrevocable.

11.3 Red Spot may terminate this Agreement at any time upon sixty (60) days'
     advance written notice to Ecology.

11.4 In the event of material breach of this Agreement, the Party not in breach
     may provide notice thereof to the Party in breach. The Party in breach
     shall have a sixty (60) day period, after receiving said notice, to correct
     the breach. If not corrected during said sixty (60) day period, the Party
     not in breach may terminate the Agreement by sending written termination
     notice to the Party in breach. Termination shall be effective upon receipt
     of said notice and is cumulative to other rights that the terminating Party
     may have arising from the breach.

11.5 Red Spot may terminate this Agreement with immediate effect upon written
     notice to Ecology (i) upon the institution by or against Ecology of
     insolvency, receivership or bankruptcy proceedings or any other proceedings
     for the settlement of Ecology's debts which, if involuntary, is not
     dismissed within sixty (60) days, (ii) upon Ecology's making an assignment
     for the benefit of creditors, or (iii) upon Ecology's dissolution.

11.6 Following termination of the Agreement pursuant to Article 11.3 or 11.4 or
     11.5, Red Spot and any authorized party receiving Confidential Information
     transmitted by Red Spot shall thereafter cease to use the Confidential
     Information disclosed by Ecology to Red Spot and information derived
     therefrom including modifications and improvements as described above. All
     such Confidential Information and derivative information shall be returned
     to Ecology, or be destroyed if Ecology so authorizes, within thirty (30)
     days following termination. The foregoing provision of this Article shall
     apply to Ecology mutatus mutandis with respect to any Confidential
     Information disclosed by Red Spot.

                                      -8-

<PAGE>

11.7 Upon termination of the Agreement pursuant to Article 11.3 or 11.4 or 11.5,
     all licenses granted to Red Spot shall automatically terminate.

11.8 Termination of this Agreement shall not relieve Red Spot of their
     obligation to pay amounts due under Section 5.1 or running royalties which
     accrued prior to termination neither shall it relieve either Party of its
     obligations of secrecy under Article 10. In addition, the provisions of
     Articles 5.3, 9.2, 13.3 - 13.7 and 14 shall survive any termination.

12.  ASSIGNABILITY

12.1 This Agreement is personal to Red Spot and is not assignable or otherwise
     transferable in whole or in part, voluntarily, involuntarily or by
     operation of law, including by any merger or consolidation, or by any other
     means, without the express prior written consent of Ecology, which shall
     not be unreasonably withheld. Ecology may assign this Agreement to an
     entity that succeeds to all or substantially all of its business or assets.

13.  GENERAL

13.1 Ecology warrants that as of the date of signing it has not granted any
     license for the Agreement Product under the Ecology Technical Information
     to any other manufacturer for The Territory.

13.2 Ecology represents and warrants that, to its knowledge as of the Effective
     Date, the Agreement Product, Ecology Technical Information and Ecology
     Patents do not interfere with, infringe upon, or otherwise come into
     conflict with any intellectual property rights of any third party, and
     Ecology has not received any charge, complaint, claim, demand or notice
     (collectively "Claims") alleging any such interference, infringement,
     misappropriation or violation. In the event that, during the first three
     (3) years after the Effective Date, any claim is brought against Red Spot
     alleging that the Agreement Product, Ecology Technical Information or
     Ecology Patents infringe any intellectual property rights of a third party,
     and such claim results in a permanent injunction preventing Red Spot from
     manufacturing and selling the Agreement Product, then Ecology will refund
     to Ecology the amounts paid under Section 5.1 amortized on a straight-line
     basis over a three (3) year period after the Effective Date. Further, in
     the event that Red Spot is required to pay royalties under a license to a
     third party with respect to any patent which covers the Agreement Product,
     Ecology Technical Information or Ecology Patents and there is no reasonable
     non-infringing way to manufacture the Agreement Product, then Red Spot
     shall be entitled to offset fifty percent (50%) of such third party
     royalties actually paid against the royalties payable to Ecology under
     Section 5.2, provided that Red Spot may not reduce the royalties under
     Section 5.2 to below five percent (5%). Ecology further represents and
     warrants that the Agreement Product has been listed to meet certain
     criteria and specifications, as set forth in Appendix "D" attached hereto
     and made a part hereof. Accordingly, Ecology represents and warrants that
     the Agreement Product, when manufactured in accordance with the Ecology
     Technical Information and the Ecology Patents, will satisfy or exceed the
     criteria and specifications set forth in Appendix "D". ECOLOGY HEREBY
     AGREES

                                      -9-

<PAGE>

     TO INDEMNIFY, DEFEND AND TO HOLD RED SPOT HARMLESS FROM ANY AND ALL LOSS,
     LIABILITY, OR OBLIGATION OF ANY KIND, WITH RESPECT TO ANY AND ALL CLAIMS,
     SUITS OR CAUSES OF ACTION BY THIRD PARTIES AND RESULTING SETTLEMENTS,
     AWARDS OR JUDGMENTS, COSTS AND ATTORNEYS' FEES ARISING FROM THE FAILURE OF
     AN AGREEMENT PRODUCT TO MEET THE CRITERIA AND SPECIFICATIONS SET FORTH IN
     APPENDIX "D", PROVIDED IT IS MANUFACTURED IN ACCORDANCE WITH THE APPLICABLE
     ECOLOGY TECHNICAL INFORMATION AND ECOLOGY PATENTS AND PROVIDED THAT RED
     SPOT (i) GIVES ECOLOGY PROMPT WRITTEN NOTICE THEREOF, (ii) GIVES ECOLOGY
     REASONABLE COOPERATION, AND (iii) GIVES ECOLOGY SOLE CONTROL OVER THE
     DEFENSE THEREOF AND ALL RELATED SETTLEMENT NEGOTIATIONS. NOTWITHSTANDING
     THE FOREGOING, THE FOREGOING INDEMNITY SHALL BE VOID AND OF NO FURTHER
     FORCE OR EFFECT IF RED SPOT SELLS AN AGREEMENT PRODUCT WITHOUT THOROUGH
     TESTING OF THE AGREEMENT PRODUCT TO VERIFY COMPLIANCE WITH THE CRITERIA AND
     SPECIFICATIONS SET FORTH IN APPENDIX "D". THIS INDEMNITY SHALL SURVIVE THE
     TERMINATION OF THIS AGREEMENT.

13.3 EXCEPT AS PROVIDED IN ARTICLE 13.1 AND 13.2, ECOLOGY MAKES NO
     REPRESENTATION, EXPRESS OR IMPLIED, AS TO THE AGREEMENT PRODUCT, THE
     ECOLOGY TECHNICAL INFORMATION, OR THE VALIDITY OF ANY ECOLOGY PATENTS, AND
     ECOLOGY HEREBY DISCLAIMS ANY FURTHER WARRANTY, INCLUDING ANY WARRANTY OF
     MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR
     OTHER STATUTORY, IMPLIED, OR EXPRESS WARRANTY. Red Spot shall indemnify and
     hold Ecology and its directors, officers and employees harmless from and
     against any and all liabilities, losses, costs and expenses arising out of
     or in connection with the manufacture, use, promotion, distribution or sale
     of Agreement Product by Red Spot; provided, however, that the foregoing
     obligations shall not apply to any liability or expense caused by negligent
     activities, reckless misconduct or intentional misconduct of Ecology.

13.4 Nothing herein contained shall be deemed to create a joint venture, agency
     or partnership relationship between the Parties hereto. Neither Party shall
     have any power to enter into any contracts or commitments in the name of,
     or on behalf of, the other Party, or to bind the other Party in any
     respect.

13.5 No grant of license, right or immunity is hereby granted save as expressly
     set forth herein.

13.6 This Agreement contains the entire agreement between the Parties with
     respect to its subject matter and supersedes all prior discussions and
     negotiations. The Agreement may only be modified by written agreement
     signed by each of the Parties' authorized representatives.

                                      -10-

<PAGE>

13.7 No failure or delay of any Party in exercising its rights under this
     Agreement shall be deemed to be a waiver of that right, and no waiver by
     any Party of a breach of any provision of this Agreement shall be deemed to
     be a waiver of any subsequent breach of the same or any other provision.

13.8 If any provision of this Agreement is held by any court or other competent
     authority to be invalid or unenforceable in whole or in part, the other
     provisions of this Agreement and the remainder of the affected provision
     shall continue to be valid.

14.  GOVERNING LAW

14.1 This Agreement is acknowledged to have been made and shall be construed in
     accordance with the laws of the State of Ohio, United States of America.

15.  NOTICES

15.1 Any notice or other information concerning this Agreement shall be given by
     facsimile or prepaid registered post to all relevant Parties at the
     addresses shown above. The date of giving of such notice shall be the date
     such facsimile or posting was sent.

Signed by

RED SPOT PAINT & VARNISH CO., INC.

By: /s/ Charley D. Storms
    --------------------------------------------
    Charley D. Storms
    President & CEO
    5/6/05                    (DATE)

For and on behalf of Red Spot
Paint & Varnish Co., Inc.

Signed by

/s/
------------------------------------------------
                              (NAME IN CAPITALS)
CEO                           (POSITION)
5/6/05                        (DATE)

For and on behalf of Ecology Coatings, Inc.

                                      -11-

<PAGE>

                                   APPENDIX A
                        TO THE LICENSE AGREEMENT BETWEEN
                                    RED SPOT
                           AND ECOLOGY COATINGS, INC.

Agreement Product: EZ-Recoat Tank Coating

<PAGE>

                                   APPENDIX B
                        TO THE LICENSE AGREEMENT BETWEEN
                                    RED SPOT
                           AND ECOLOGY COATINGS, INC.

ECOLOGY PATENTS

U.S. PATENT APPLICATIONS

Composition of matter comprising UV curable material, photoinitiators, fillers,
and solid pigment dispersions. 10/872,531

A process for coating propane tanks and similar articles with a 100% solids, UV
curable coating. 60/549,669

Environmentally friendly, 100% solids, actinic radiation curable coating
compositions and coated surfaces and coated articles thereof. 10/983,022

Environmentally friendly, assemblages, facilities, and processes for applying an
opaque 100% solids, actinic radiation curable coating of objects. 10/982,998

Environmentally friendly, 100% solids, actinic radiation curable coating
compositions for coating thermally sensitive surfaces and/or rusted surfaces and
methods, processes and assemblages for coating thereof. 11/003,159

<PAGE>

                                   APPENDIX C
                        TO THE LICENSE AGREEMENT BETWEEN
                                    RED SPOT
                           AND ECOLOGY COATINGS, INC.

Ecology Technical Information shall consist of the following for the Agreement
Product:

     1)   Formulations

     2)   Raw material list & specifications

     3)   Manufacturing instructions

     4)   Testing instructions

     5)   Material safety data sheets

     6)   Customer approvals

     7)   Agreement Product performance testing, test data, data, and
          capabilities

Additional information can be provided on:

     i)   Customer listing, details, and contact information

     ii)  Specific quality assurance

     iii) List of raw material suppliers

     iv)  List of machinery for production

     v)   List of testing equipment

                                       -1-

<PAGE>

                                   APPENDIX D
                        TO THE LICENSE AGREEMENT BETWEEN
                                    RED SPOT
                           AND ECOLOGY COATINGS, INC.

SPECIFICATIONS FOR EX-RECOAT

PHYSICAL CHARACTERISTICS

Color: Gray.

Finish: Gloss: 50 to 70 at a 60degrees angle when cured as recommended. Use of
improper lamps will produce a dull finish.

Pencil hardness: When properly cured, will resist penetration by 4H pencil at a
minimum.

Adhesion: 100% when hatched and pulled with Scotch 600 tape, when properly
cured.

Theoretical Volume Solids: 100%.

Theoretical VOCs: 0%.

Theoretical Coverage: 1604 square feet @ 1 mil.

Recommended coating thickness: 1.2 to 2.5 mils.

Viscosity: 58 seconds maximum on #3 Zahn cup @ 70degreesF. Viscosity may fall
to 28 seconds on a #3 Zahn with high shear mixing. Coating should be maintained
at highest spray-able viscosity for optimal coverage. Viscosity should not
exceed 58 seconds on a #3 Zahn at ambient temperatures.

Flashpoint: greater than 200degreesF.

SURFACE PREPARATION

Surface must be clean, dry and in sound condition. Remove all oil, dust, grease,
dirt, loose rust, and other foreign materials to ensure adequate adhesion.

It is recommended that the substrate undergo a cleaning process before coating
to ensure maximum adhesion. Solvent wiping is not a suitable method and will
hinder adhesion and cure. There should be no loose grit.

Minimum surface pretreatment of previously coated surfaces: neutral cleaners and
citrus based cleaners are suitable for the surface treatment of previously
coated surfaces. Simple carbonates such as Bon-Ami are very effective. Cleaners
should be well rinsed to avoid residual surfactant.

                                       -1-

<PAGE>

TANKS MUST BE DRY. THE PRESENCE OF MOISTURE WILL CAUSE VOIDS, ESPECIALLY ON
VERTICAL SURFACES. THIS IS ESPECIALLY TRUE OF SANDBLASTED SURFACES THAT MAY
MAINTAIN MOISTURE IN PORES.

EZ-Recoat will adhere to most tank coatings, paper, light rust, and many
plastics.

RECOMMENDED CURING

600 Watt Fusion lights are recommended. Curing should be done with iron doped
(D) mercury lamps and un-doped lamps (H) - in that order.

RECOMMENDED APPLICATION

Application by turbine driven HVLP guns is optimal. Conventional HVLP guns may
be used. Air assisted airless application is possible, but must be carefully
adjusted to approach the performance of the other two methods. Heating is not
recommended. If heaters are used, temperature must not exceed 120degreesF, as
heat will promote coating breakdown. Application equipment should be of
stainless steel and plastic, preferably polyethylene or polypropylene. Contact
of coating with PVC, silicones, or brass fittings should be avoided. Contact
with solvents should be avoided.

RECLAIMABILITY

Coating may be caught, filtered, and re-used with no adjustments. If a reclaim
system is used, it should be of polypropylene, polyethylene, or stainless steel.
PVC must not be used, as it will dissolve in the coating.

                                       -2-

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