Document:

Exhibit 10.3

                                   ASSIGNMENT

THIS  ASSIGNMENT  is made this 20th day of  December,  2001 by  MEGAWATT  ENERGY
CORPORATION, a California corporation,  having principal mailing address at 4735
Clairemont Square,  Suite 314, San Diego, CA 92117 ("ASSIGNOR" or "MEC") and NEW
ENERGY  CORPORATION,  a Utah  corporation  ("ASSIGNEE" or "NECO").  ASSIGNOR and
ASSIGNEE hereinafter individually "PARTY" or collectively "PARTIES."

                                    RECITALS

WHEREAS,  ASSIGNOR has Purchase  Orders dated June 9, 2001  (attached  hereto as
Exhibit A) for Distributive Power Services,  LLC ("DPS") in the amount of Thirty
Six  Million  Dollars  ($36,000,000)  for a  group  of  MEC  High  Concentration
Photovoltaic  Electro-Thermal Solar Generators ("SOLAR GENERATORS") comprising a
total of four (4) MegaWatts for residential, commercial, industrial Customers of
DPS; and,

WHEREAS, ASSIGNOR wishes to assign these Purchase Orders to ASSIGNEE; and,

WHEREAS,  ASSIGNEE  desires to license  certain MEC  technology  and methods and
possesses component parts inventories for the manufacture of Solar Generators by
MEC,  resources to market and install Solar  Generators  produced by MEC under a
soon to be created License Technology Agreement.

NOW THEREFORE, this ASSIGNMENT is as follows:

                                   ASSIGNMENT

1.   ASSIGNOR assigns the above  referenced  Purchase Orders for DPS to ASSIGNEE
     under the following terms:
     1.1  ASSIGNEE  accepts  responsibility  to  provide  and  deliver  four (4)
          MegaWatts  of various  sized Solar  Generators  under the terms of the
          Purchase Orders to DPS.
     1.2  ASSIGNEE must pay ASSIGNOR for the delivered  Solar  Generators  under
          the terms of Technology  License  Agreement between MEC and NECO to be
          executed by MEC and NECO.

2.   OBLIGATIONS OF ASSIGNOR
     2.1  ASSIGNOR shall manufacture Solar Generators purchased by ASSIGNEE.
     2.2  ASSIGNOR warranties all materials,  labor and performance of the Solar
          Generators for a period of five (5) years.
     2.3  ASSIGNOR  agrees to  provide  technical  and  engineering  support  to
          ASSIGNEE as required.

3.   OBLIGATIONS OF ASSIGNEE
     3.1  ASSIGNEE  is  responsible  payment,   installation,   maintenance  and
          Warranty for the aforesaid Solar Generators.
     3.2  ASSIGNEE  shall  maintain  the  same  price  to DPS as  stated  in the
          Purchase  Order and agrees to honor all MEC  warranty  obligations  to
          DPS.

4.   Termination  of this  ASSIGNMENT,  for any  cause  whatsoever,  shall in no
     manner interfere with,  affect or prevent the collection by ASSIGNOR of any
     and all sums of money due to it under this ASSIGNMENT prior to or after the
     Solar Generators are installed.

5.   DISPUTES
     There are many documents  needed to carry out the objectives of the PARTIES
     as described herein and the PARTIES will negotiate in good faith to resolve
     any differences of opinion in order to carry out the express intent of this

MEGAWATT / NECO ASSIGNMENT - 4 MEGAWATTS / $36,000,000               Page 1 of 4
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     relationship.  In the unlikely event that the PARTIES are not able (through
     good-faith negotiation and mediation) to resolve any differences of opinion
     or dispute, the following shall occur:
     5.1  Any Dispute, controversy or claim arising under, out of or relating to
          this  ASSIGNMENT  (and  subsequent  amendments  thereof) and its valid
          conclusion,  binding effect,  interpretation,  performance,  breach or
          termination,  including tort claims  (hereinafter  referred to as "the
          Dispute") shall be submitted to Mediation in accordance with the Rules
          of the  American  Arbitration  Association  in  force  at the  time of
          initiating the mediation procedure.
     5.2  If the  Dispute  has  not  been  settled  pursuant  to  the  Mediation
          procedure  within 60 days of the  initiation of the  Mediation,  or if
          either Party will not participate in the Mediation,  the Dispute shall
          be referred to and finally  determined  by  arbitration  in accordance
          with the Rules of Arbitration of the International Chamber of Commerce
          in force when initiating the arbitral procedure.
     5.3  The arbitral tribunal shall consist of a sole arbitrator. The place of
          arbitration  shall be San Diego,  USA.  The language to be used in the
          arbitral proceedings shall be English. All disputes,  controversies or
          claims  referred  to  arbitration  including  those on any  statute of
          limitations,  set-off claims, tort claims and interest claims shall be
          governed by the substantive law of California, U.S.A.

6.   INDEMNIFICATION
     6.1  ASSIGNOR  agrees to  indemnify  and hold  ASSIGNEE  harmless  from and
          against any and all liability,  damage, expense, claims, or judgments,
          including  reasonable  attorneys' fees,  resulting from fiscal loss or
          damages  resulting  from  Intellectual  Property  infringement  issues
          wherein  ASSIGNEE is named as a  defendant  from third party law suits
          arising   out  of  the   development,   commercialization,   use   and
          exploitation of the HCPV Solar Generator technology.
     6.2  The PARTIES  shall  mutually  hold each  harmless  against any losses,
          claims,  damages,  fines,  expenses or liabilities,  joint or several,
          including  amounts paid in settlement to which either PARTY may become
          subject,  insofar as such losses, claims, damages, fines, expenses, or
          liabilities (or actions in respect thereof) arise out of, or are based
          upon any act or  failure  to act by  either  PARTY  and,  directly  or
          indirectly,  relate to the services of either  PARTY or its  director,
          officer,  employee,  agent or consultant or of any other  corporation,
          partnership,  joint venture,  trust or other enterprise  which, as the
          representative  of either PARTY,  served as such, serves or will serve
          at the request of either PARTY.
     6.3  The  indemnification  provided  by this  ASSIGNMENT  shall  cover  any
          indemnified  party who is or was a party or is threatened to be made a
          party  to  any   threatened,   pending  or   contemplated   action  or
          investigation,  including to the extent permitted by applicable law an
          action by or in the right of Indemnified Party, either PARTY or any of
          its  subsidiaries,  (the  "Companies"),  and shall apply to the extent
          permitted by applicable law despite any judgment,  order,  settlement,
          conviction or plea of nolo  contendere or its  equivalent  and despite
          any  adjudication  of  liability,  negligence,  misconduct or unlawful
          conduct,  if the Indemnified Party acted in good faith with respect to
          the PARTIES and in a manner  which the  Indemnified  Party  reasonably
          believed to be in or not opposed to the best interest of the PARTIES.
     6.4  Indemnification payments under this ASSIGNMENT shall be made by either
          PARTY  promptly  as any legal or other  expenses  are  incurred  by an
          Indemnified  Party and,  except to the extent  required by  applicable
          law, no further authorization or approval by the Board of Directors or
          shareholders  of either  PARTY or by any court shall be  required  for
          such payment.
     6.5  Following   receipt  by  any  Indemnified   Party  of  notice  of  the
          commencement of any legal action,  the  Indemnified  Party will notify
          the other PARTY of the commencement  thereof and the other PARTY shall
          be entitled to  participate  therein to the extent that it may desire,

MEGAWATT / NECO ASSIGNMENT - 4 MEGAWATTS / $36,000,000               Page 2 of 4
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          with counsel satisfactory to the Indemnified Party; provided, however,
          that  failure to give notice as provided by this  paragraph  shall not
          constitute  a waiver of any rights under this  ASSIGNMENT.  Whether or
          not either PARTY has counsel in any such legal action, any Indemnified
          Party shall be entitled to select his own counsel and to be reimbursed
          for legal expenses as provided herein.
     6.6  The  indemnification  provided by this ASSIGNMENT  shall not be deemed
          exclusive  of any other rights to which any  Indemnified  Party may be
          entitled  under  charter  or by-law  provisions,  ASSIGNMENT,  vote of
          directors  or   shareholders   or  otherwise.   The   termination   or
          modification of this ASSIGNMENT and the termination of services of the
          Indemnified  Party to the other party and its  subsidiaries  hereunder
          shall not affect the  indemnification  rights of the Indemnified Party
          for any act or failure to act occurring  prior to such  termination or
          modification, without regard to whether legal action was instituted or
          threatened after termination.

7.   INSOLVENCY OR MERGER
     In the event of a  bankruptcy,  insolvency,  change of control or if either
     PARTY or its assigns  shall at any time be merged or  consolidated  into or
     with any other  company  or  corporation,  or if  substantially  all of the
     assets or control of either  PARTY are at any time sold or  transferred  to
     any other company or corporation,  the provisions of this ASSIGNMENT  shall
     be  binding  upon and inure to the  benefit of the  company or  corporation
     resulting  from such  merger,  sale,  transfer or  consolidation  and these
     provisions  shall apply in the event of any  subsequent  merger,  transfer,
     sale or consolidation.

8.   FORCE MAJEURE
     Neither  PARTY  shall be  deemed to be in  default  if  performance  of the
     obligations  required by this  ASSIGNMENT is delayed or becomes  impossible
     because  of any  act of  God,  war,  earthquake,  fire,  strike,  sickness,
     accident,  civil commotion,  epidemic,  act of government,  its agencies or
     officers,  or any other  legitimate cause beyond the control of ASSIGNEE or
     ASSIGNOR.  Upon  occurrences  of any such event,  or if the PARTIES fail to
     perform  any or all of the  conditions  or  covenants  of  this  ASSIGNMENT
     because of circumstances  beyond the control of the PARTIES and not induced
     or brought about by the unreasonable acts of the PARTIES, then the PARTIES,
     in addition to any other rights and remedies they may have,  may elect,  by
     giving notice to one another,  to extend the term of this  ASSIGNMENT for a
     period equivalent to all or any part of the period that any such conditions
     shall prevail or that the PARTIES shall be in default.  In the event of any
     such extension,  specific dates, periods and time requirements  referred to
     herein shall be postponed or extended accordingly.

9.   ASSIGNABILITY
     9.1  This ASSIGNMENT  shall not be assignable by ASSIGNEE except with prior
          written consent of ASSIGNOR  provided  ASSIGNOR consents to a transfer
          to any company owned by ASSIGNEE.  Any attempt to assign shall be void
          and, if completed, cause automatic termination of this ASSIGNMENT.
     9.2  In the event ASSIGNEE wishes to sell any of its rights, ASSIGNOR shall
          have a right of first refusal.

10.  RIGHTS OF HEIRS
     The rights and benefits of both PARTIES under this  ASSIGNMENT are personal
     to them,  including persons having an interest therein,  and except for the
     foregoing,  no such right or  benefit  shall be  subject  to  voluntary  or
     involuntary alienation, assignment or transfer.

11.  NOTICES
     Any  notices or other  communication  related to this  ASSIGNMENT  shall be
     deemed  sufficiently  given  if sent by  facsimile  transmission  or  Email
     followed by courier to the PARTY at its address set forth at the  beginning
     of this  ASSIGNMENT;  provided  however,  that either  PARTY may change the
     address  to  which  any  such  notice  or  communication  is to be  sent or
     delivered by giving the other PARTY written notice of such change.

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12.  FUTURE ASSIGNMENTS AND MODIFICATIONS TO THIS ASSIGNMENT
     12.1 The  PARTIES  understand  that a  more  definitive  ASSIGNMENT  may be
          created  by the  PARTIES  to  fulfill  the  scope  and  intent of this
          ASSIGNMENT.
     12.2 This  ASSIGNMENT  embodies all of the  understanding  and  obligations
          between the PARTIES  with  respect to the subject  matter  hereof.  No
          amendment or modification of this ASSIGNMENT shall be valid or binding
          upon the PARTIES  unless made in writing,  signed on behalf of each of
          the  PARTIES  by  their  respective  proper  officers  thereunto  duly
          authorized.

13.  PROVISIONS
     In the event that one or more of the provisions  contained  herein shall be
     invalid,  illegal or unenforceable in any respect,  the validity,  legality
     and enforceability of the remaining  provisions  contained herein shall not
     in any way be affected or impaired  thereby,  it being the intention of the
     PARTIES hereto that indemnification be provided to the Indemnified Party to
     the fullest extent allowable under applicable law.

IN WITNESS  WHEREOF,  the duly  authorized  representatives  of the PARTIES have
executed  this  ASSIGNMENT as of the date first above written in the City of San
Diego, County of San Diego, State of California.

MEGAWATT ENERGY CORPORATION             NEW ENERGY CORPORATION
(ASSIGNOR)                              (ASSIGNEE)

_________________________________       _________________________________
By: Frank Dostalek, President           By: John McDonald, President

MEGAWATT / NECO ASSIGNMENT - 4 MEGAWATTS / $36,000,000               Page 4 of 4Exhibit 10.4

                          TECHNOLOGY LICENSE AGREEMENT

THIS TECHNOLOGY LICENSE AGREEMENT  ("AGREEMENT") is made this 20th day of March,
2002 by and between  MEGAWATT  ENERGY  CORPORATION,  a  California  corporation,
having  principal  mailing  address at 4735  Clairemont  Square,  Suite 314, San
Diego, CA 92117  ("LICENSOR") and NEW ENERGY  CORPORATION,  a Utah  corporation,
having   principal   offices  at  5685  La  Jolla  Blvd.,  La  Jolla,  CA  92037
("LICENSEE").   LICENSOR  and  LICENSEE  hereinafter   individually  "PARTY"  or
collectively "PARTIES."
                                    RECITALS

WHEREAS,  LICENSOR is licensed by owner by  assignment  and otherwise to certain
proprietary  intellectual  property claims (filed or currently being filed under
U.S.  International  and  Pan-American  Intellectual  Property  Conventions) and
possesses the technology,  proprietary methods and resources to manufacture High
Concentration  Photovoltaic  Solar  Generators  ("HCPV")  capable of  delivering
electric and thermal energy to residential,  commercial,  industrial and utility
scale end-users; and,

WHEREAS,  LICENSEE  desires  to  license  under  said  proprietary  intellectual
property  rights,  proprietary  technology  and methods and possesses  component
parts  inventories  for the manufacture of HCPV Solar  Generators,  resources to
market HCPV Solar  Generators and a unique financing method to access funding of
customer orders.

NOW THEREFORE,  in  consideration  of the mutual  covenants and promises  herein
contained, the PARTIES agree as follows:

                                    AGREEMENT

1.   DEFINITIONS: as used herein, the term:
     1.1  "Proprietary Technology" shall mean a multi-purpose dual-axis tracking
          system to allow the Solar  Generator HCPV collectors to follow the sun
          whereby the sun's rays are maintained at a perpendicular  angle to the
          collectors in order to maximize efficiency.
     1.2  "Proprietary  Methods" shall mean the planning,  design,  construction
          and  installation of HCPV Solar  Generators  utilizing the methods and
          experience of LICENSOR.
     1.3  "Proprietary Intellectual Property Rights" and "Licensor Rights" shall
          mean Copyrights,  Tradenames,  Trademarks and potential Patent Pending
          claims supporting the proprietary ownership position in certain unique
          intellectual property and proprietary methods associated with the HCPV
          Solar  Generators  as may or may not be granted by U.S.  Patent Office
          and  under  International  and  Pan-American   Intellectual   Property
          Conventions that MEC has with owner.
     1.4  "Licensor   Rights"   shall  mean  all   letters   patent  and  patent
          applications, current or contemplated, claiming priority from or based
          on  "Licensor  Proprietary   Intellectual  Property  Rights"  and  all
          unregistered proprietary methods employed in the manufacturing of HCPV
          Solar Generators.
     1.5  "HCPV Solar  Generators"  shall mean High  Concentration  Photovoltaic
          Dual-Axis Tracking Solar Electro-Thermal Generators.
     1.6  "Designated  Territories" shall mean Worldwide.  The ability to market
          NECO  HCPV  Solar  Generators  for  sale  or to sell  energy  produced
          therefrom anywhere in the world.
     1.8  "Customers" shall mean either purchasers of NECO HCPV Solar Generators
          or  entities  that  purchase  energy from  LICENSEE  under NECO Energy
          Purchase Agreement(s).

2.   GRANT OF LICENSE
     2.1  Upon terms and conditions set forth herein,  LICENSOR hereby grants to
          LICENSEE a license for the Designated Territory for a proprietary NECO
          HCPV  Solar  Generator  product  line for  designated  commercial  and
          residential  applications,  under the claims of LICENSOR Patent Rights

MEGAWATT / NECO TECHNOLOGY LICENSE AGREEMENT                         Page 1 of 6
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          and employing LICENSOR  proprietary methods to use the NECO HCPV Solar
          Generators in  conjunction  with any energy  facilitator  program that
          LICENSEE desires.
     2.2  The NECO HCPV Solar Generator product line shall be agreed upon by the
          PARTIES  regarding  the size(s),  model(s) and rated  output(s) of the
          electric and thermal  energy  generated.  These models shall  comprise
          LICENSEE's unique and proprietary NECO Solar Generator products.
     2.3  LICENSOR
          2.3.1     shall not sell or manufacture HCPV Solar Generators to other
                    parties  that use the same model,  size or energy  output of
                    LICENSEE's product line.
          2.3.2     can design,  sell and  manufacture  other HCPV product lines
                    utilizing  different  sizes  or  outputs  as long  as  these
                    product lines do not copy the NECO size, models or output.

3.   NON EXCLUSIVE AGREEMENT
     3.1  This  AGREEMENT is for the license and use of  Proprietary  Technology
          and is not  to be  construed  as to any  other  relation  between  the
          PARTIES  such  as a joint  venture,  common  enterprise,  partnership,
          common entity or the transfer of any rights, title and interest in the
          Proprietary Technology.
     3.2  This AGREEMENT is for the sale and factory financing of LICENSORS HCPV
          Solar  Generators.  The design models are  proprietary  to LICENSEE as
          granted  by  LICENSOR  and other than  price  discounts  of HCPV Solar
          Generators  and the  five  (5) year  warranty,  no other  relationship
          exists between the parties.
     3.3  LICENSEE  recognizes  that LICENSOR may in the future become active in
          other gainful  endeavors and  acknowledges and agrees that LICENSOR is
          not  expected  nor  require its full time or  attention  to the duties
          hereunder.
     3.4  LICENSEE  understands by this AGREEMENT,  LICENSOR is not transferring
          any rights, title or interests other than provided herein to LICENSEE.
     3.5  LICENSOR  retains  the sole right to enter  into HCPV Solar  Generator
          sales or license agreements for its Proprietary Technology and designs
          with other private or public parties,  including  agencies of Federal,
          State and/or City governments, institutions.
     3.6  LICENSOR  retains  the right to promote or  conduct  direct  sales for
          other models or product lines utilizing LICENSOR's HCPV technology.

4.   SALES TERMS
     4.1  LICENSEE  agrees to promptly pay LICENSOR  sixty  percent (60%) of the
          LICENSOR's  standard retail sales price upon the placement of an order
          for a NECO HCPV Solar Generator.
     4.2  LICENSOR
          4.2.1     agrees to extend  financing  terms for the  balance of forty
                    percent (40%) of the LICENSOR's standard retail sales price.
                    The  financing  is to be in the  form  of a  long-term  note
                    payable by LICENSEE to LICENSOR.
          4.2.2     agrees  to  provide  to  LICENSEE  a  thirty  percent  (30%)
                    discount of the  LICENSOR's  standard  retail  sales  price.
                    LICENSOR  shall provide a retail price  schedule on all HCPV
                    Solar Generators to NECO.
     4.3  In the event  LICENSOR  utilizes any of the  component  parts from the
          LICENSEE's  inventory,  LICENSOR agrees to reimburse LICENSEE based on
          appraised value of inventory.

5.   ADDITIONAL TERMS
     5.1  OBLIGATIONS OF LICENSOR: LICENSOR
          5.1.1     is  responsible  for the  manufacturing  of any and all NECO
                    HCPV  Solar  Generators  purchased  by  LICENSEE.   LICENSOR
                    warranties all materials, labor and performance of NECO HCPV
                    Solar  Generators  for a  period  of five (5)  years.  5.1.2
                    agrees to  provide  technical  and  engineering  support  to
                    LICENSEE as required.

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     5.2  OBLIGATIONS OF LICENSEE: LICENSEE
          5.2.1     is responsible for the  installation  and maintenance of all
                    NECO HCPV Solar Generators purchased.
          5.2.2     is  also  responsible  for  the  extended  warranty  of  all
                    materials,   labor  and   performance  of  NECO  HCPV  Solar
                    Generators subsequent to the five (5) year warranty period.
     5.3  Customers  which  have  had no  prior  contact  with  LICENSOR  or its
          affiliates  must be  registered  by  LICENSEE  with  and  approved  by
          LICENSOR in writing  (via Email).  Subject to  receiving  the Customer
          information  and after  confirmation  by LICENSOR,  LICENSEE  shall be
          granted a twenty four (24) month exclusive time period to complete the
          transaction with Customer.  After the end of this period,  exclusivity
          ends.

6.   NON DISCLOSURE, CONFIDENTIALITY AND NON COMPETITION
     6.1  LICENSOR is disclosing certain information  believed to be proprietary
          relating to its HCPV Solar  Generators  and in particular  relating to
          the Rankine Cycle turbine generator system.  Such information is fully
          confidential  and  should  not  be  disclosed  through   presentation,
          commerce,  research  or in any other way  without  subsequent  written
          agreement or written approval by LICENSOR.
     6.2  LICENSOR has the right to disclose  this  information  and any written
          matter and  LICENSEE  agrees said  information  will be  preserved  in
          complete confidence and promptly returned to LICENSOR upon request.
     6.3  LICENSEE  covenants they will not compete with or cause anyone else to
          compete with  LICENSOR or its designees in respect to the substance of
          this information.
     6.4  The PARTIES of this AGREEMENT  agree that even though this document is
          confidential  between  the  PARTIES,  the  original  or copies of this
          document  in  possession  of  members  of either  PARTY may be used in
          camera before a court of proper  jurisdiction for purposes of securing
          an ex-parte order enjoining either PARTY or their directors, officers,
          employees,  agents or  consultants  from  disclosing  or continuing to
          disclose any of the names of principals  and/or the business of either
          PARTY to anyone, anything or specifically to the media.
     6.5  The PARTIES to this  AGREEMENT  hereby waive the  mandatory  four hour
          notice  required by law to seek an injunction  against the other PARTY
          if  either  PARTY  breaches  this   Non-Disclosure   section  of  this
          AGREEMENT.
     6.6  All PARTIES  individually and severally agree that if they breach this
          portion of this  AGREEMENT,  the PARTY to have breached this AGREEMENT
          shall be severally liable for attorneys fees, court costs, staff time,
          and any reasonable damage the other Part may prove in a court of law.

7.   DURATION AND TERMINATION
     7.1  This AGREEMENT  shall continue in full force and effect until December
          31, 2025 and be  automatically  renewable for two successive and equal
          terms,  at the  option of the  LICENSEE,  provided  however,  that the
          AGREEMENT and Licenses are in good standing, full force and effect.
     7.2  If LICENSEE shall at any time default in the payment of any monies due
          hereunder,  or the rendering any other  obligations  hereof,  and such
          default  shall not be cured  within  forty  five (45) days  after such
          written  notice by LICENSOR to  LICENSEE,  this  AGREEMENT is void and
          shall automatically terminate.
     7.3  If  default  should  occur,  LICENSOR  shall  have  the  right to seek
          administrative and legal relief as provided hereunder.
     7.4  LICENSOR  shall have the right to terminate  this  AGREEMENT by giving
          written  notice of  termination to LICENSEE in the event of any one of
          the following should occur:
          7.4.1     Liquidation of LICENSEE.
          7.4.2     Insolvency or bankruptcy of LICENSEE,  whether  voluntary or
                    involuntary.
          7.4.3     Failure of LICENSEE  to  immediately  satisfy  any  judgment
                    against it.
          7.4.4     Appointment of a trustee or receiver for LICENSEE; or,
          7.4.5     Any assignment by LICENSEE for the benefit of creditors.
     7.5  The waiver of any default  under this  AGREEMENT by either PARTY shall
          not  constitute a waiver of the right to terminate  this AGREEMENT for

MEGAWATT / NECO TECHNOLOGY LICENSE AGREEMENT                         Page 3 of 6
<PAGE>
          any  subsequent  or like  default,  and the  exercise  of the right of
          termination  shall not have the effect of waiving any damages to which
          either PARTY might otherwise be entitled.
     7.6  Termination of this AGREEMENT,  for any cause whatsoever,  shall in no
          manner interfere with, affect or prevent the collection by LICENSOR of
          any and all sums of money due to it under this AGREEMENT.

8.   DISPUTES
     The PARTIES  understand  there are many documents needed to carry out their
     objectives as described  herein and that they will  negotiate in good faith
     to resolve  any  differences  of opinion in order to carry out the  express
     intent of this relationship. In the unlikely event that the PARTIES are not
     able  (through  good-faith   negotiation  and  mediation)  to  resolve  any
     differences of opinion or dispute, they agree as follows:
     8.1  Any Dispute, controversy or claim arising under, out of or relating to
          this  AGREEMENT  (and  subsequent  amendments  thereof)  and its valid
          conclusion,  binding effect,  interpretation,  performance,  breach or
          termination,  including tort claims  (hereinafter  referred to as "the
          Dispute") shall be submitted to Mediation in accordance with the Rules
          of the  American  Arbitration  Association  in  force  at the  time of
          initiating the mediation procedure.
     8.2  If the  Dispute  has  not  been  settled  pursuant  to  the  Mediation
          procedure  within 60 days of the  initiation of the  Mediation,  or if
          either Party will not participate in the Mediation,  the Dispute shall
          be referred to and finally  determined  by  arbitration  in accordance
          with the Rules of Arbitration of the International Chamber of Commerce
          in force when initiating the arbitral procedure.
     8.3  The arbitral tribunal shall consist of a sole arbitrator. The place of
          arbitration  shall be San Diego,  USA.  The language to be used in the
          arbitral proceedings shall be English. All disputes,  controversies or
          claims  referred  to  arbitration  including  those on any  statute of
          limitations,  set-off claims, tort claims and interest claims shall be
          governed by the substantive law of California, U.S.A.

9.   INDEMNIFICATION
     9.1  LICENSOR  agrees to  indemnify  and hold  LICENSEE  harmless  from and
          against any and all liability,  damage, expense, claims, or judgments,
          including  reasonable  attorneys' fees,  resulting from fiscal loss or
          damages  resulting  from  Intellectual  Property  infringement  issues
          wherein  LICENSEE is named as a  defendant  from third party law suits
          arising   out  of  the   development,   commercialization,   use   and
          exploitation of the HCPV Solar Generator technology.
     9.2  The PARTIES  shall  mutually  hold each  harmless  against any losses,
          claims,  damages,  fines,  expenses or liabilities,  joint or several,
          including  amounts paid in settlement to which either PARTY may become
          subject,  insofar as such losses, claims, damages, fines, expenses, or
          liabilities (or actions in respect thereof) arise out of, or are based
          upon any act or  failure  to act by  either  PARTY  and,  directly  or
          indirectly,  relate to the services of either  PARTY or its  director,
          officer,  employee,  agent or consultant or of any other  corporation,
          partnership,  joint venture,  trust or other enterprise  which, as the
          representative  of either PARTY,  served as such, serves or will serve
          at the request of either PARTY.
     9.3  The  indemnification  provided  by  this  AGREEMENT  shall  cover  any
          indemnified  party who is or was a party or is threatened to be made a
          party  to  any   threatened,   pending  or   contemplated   action  or
          investigation,  including to the extent permitted by applicable law an
          action by or in the right of Indemnified Party, either PARTY or any of
          its  subsidiaries,  (the  "Companies"),  and shall apply to the extent
          permitted by applicable law despite any judgment,  order,  settlement,
          conviction or plea of nolo  contendere or its  equivalent  and despite
          any  adjudication  of  liability,  negligence,  misconduct or unlawful
          conduct,  if the Indemnified Party acted in good faith with respect to
          the PARTIES and in a manner  which the  Indemnified  Party  reasonably
          believed to be in or not opposed to the best interest of the PARTIES.

MEGAWATT / NECO TECHNOLOGY LICENSE AGREEMENT                         Page 4 of 6
<PAGE>
     9.4  Indemnification  payments under this AGREEMENT shall be made by either
          PARTY  promptly  as any legal or other  expenses  are  incurred  by an
          Indemnified  Party and,  except to the extent  required by  applicable
          law, no further authorization or approval by the Board of Directors or
          shareholders  of either  PARTY or by any court shall be  required  for
          such payment.
     9.5  Following   receipt  by  any  Indemnified   Party  of  notice  of  the
          commencement of any legal action,  the  Indemnified  Party will notify
          the other PARTY of the commencement  thereof and the other PARTY shall
          be entitled to  participate  therein to the extent that it may desire,
          with counsel satisfactory to the Indemnified Party; provided, however,
          that  failure to give notice as provided by this  paragraph  shall not
          constitute a waiver of any rights under this AGREEMENT. Whether or not
          either  PARTY has counsel in any such legal  action,  any  Indemnified
          Party shall be entitled to select his own counsel and to be reimbursed
          for legal expenses as provided herein.
     9.6  The  indemnification  provided by this  AGREEMENT  shall not be deemed
          exclusive  of any other rights to which any  Indemnified  Party may be
          entitled  under  charter  or  by-law  provisions,  agreement,  vote of
          directors  or   shareholders   or  otherwise.   The   termination   or
          modification  of this AGREEMENT and the termination of services of the
          Indemnified  Party to the other party and its  subsidiaries  hereunder
          shall not affect the  indemnification  rights of the Indemnified Party
          for any act or failure to act occurring  prior to such  termination or
          modification, without regard to whether legal action was instituted or
          threatened after termination.

10.  INSOLVENCY OR MERGER
     In the event of a  bankruptcy,  insolvency,  change of control or if either
     PARTY or its assigns  shall at any time be merged or  consolidated  into or
     with any other  company  or  corporation,  or if  substantially  all of the
     assets or control of either  PARTY are at any time sold or  transferred  to
     any other company or corporation, the provisions of this AGREEMENT shall be
     binding  upon and  inure  to the  benefit  of the  company  or  corporation
     resulting  from such  merger,  sale,  transfer or  consolidation  and these
     provisions  shall apply in the event of any  subsequent  merger,  transfer,
     sale or consolidation.

11.  FORCE MAJEURE
     Neither  PARTY  shall be  deemed to be in  default  if  performance  of the
     obligations  required by this  AGREEMENT  is delayed or becomes  impossible
     because  of any  act of  God,  war,  earthquake,  fire,  strike,  sickness,
     accident,  civil commotion,  epidemic,  act of government,  its agencies or
     officers,  or any other  legitimate cause beyond the control of LICENSEE or
     LICENSOR.  Upon  occurrences  of any such event,  or if the PARTIES fail to
     perform any or all of the conditions or covenants of this AGREEMENT because
     of  circumstances  beyond the  control of the  PARTIES  and not  induced or
     brought about by the unreasonable acts of the PARTIES, then the PARTIES, in
     addition to any other  rights and  remedies  they may have,  may elect,  by
     giving  notice to one another,  to extend the term of this  AGREEMENT for a
     period equivalent to all or any part of the period that any such conditions
     shall prevail or that the PARTIES shall be in default.  In the event of any
     such extension,  specific dates, periods and time requirements  referred to
     herein shall be postponed or extended accordingly.

12.  ASSIGNABILITY
     12.1 This AGREEMENT  shall not be assignable by LICENSEE  except with prior
          written consent of LICENSOR  provided  LICENSOR consents to a transfer
          to any company owned by LICENSEE.  Any attempt to assign shall be void
          and, if completed, cause automatic termination of this Agreement.
     12.2 In the event LICENSEE wishes to sell any of its rights, LICENSOR shall
          have a right of first refusal.

13.  RIGHTS OF HEIRS
     The rights and benefits of both PARTIES  under this  AGREEMENT are personal
     to them,  including persons having an interest therein,  and except for the
     foregoing,  no such right or  benefit  shall be  subject  to  voluntary  or
     involuntary alienation, assignment or transfer.

MEGAWATT / NECO TECHNOLOGY LICENSE AGREEMENT                         Page 5 of 6
<PAGE>
14.  NOTICES
     Any  notices  or other  communication  related to this  AGREEMENT  shall be
     deemed  sufficiently  given  if sent by  facsimile  transmission  or  Email
     followed by courier to the PARTY at its address set forth at the  beginning
     of this  AGREEMENT;  provided  however,  that  either  PARTY may change the
     address  to  which  any  such  notice  or  communication  is to be  sent or
     delivered by giving the other PARTY written notice of such change.

15.  FUTURE AGREEMENTS AND MODIFICATIONS TO THIS AGREEMENT
     15.1 The PARTIES  agree and  understand  that a more  definitive  agreement
          shall be  created by the  PARTIES  to fulfill  the scope and intent of
          this AGREEMENT.
     15.2 This  AGREEMENT  embodies  all of the  understanding  and  obligations
          between the PARTIES  with  respect to the subject  matter  hereof.  No
          amendment or  modification of this AGREEMENT shall be valid or binding
          upon the PARTIES  unless made in writing,  signed on behalf of each of
          the  PARTIES  by  their  respective  proper  officers  thereunto  duly
          authorized.

16.  PROVISIONS
     In the event that one or more of the provisions  contained  herein shall be
     invalid,  illegal or unenforceable in any respect,  the validity,  legality
     and enforceability of the remaining  provisions  contained herein shall not
     in any way be affected or impaired  thereby,  it being the intention of the
     PARTIES hereto that indemnification be provided to the Indemnified Party to
     the fullest extent allowable under applicable law.

IN WITNESS  WHEREOF,  the  respective  duly  authorized  representatives  of the
PARTIES  have  caused this  AGREEMENT  to be executed as of the date first above
written in the City of San Diego, County of San Diego, State of California.

MEGAWATT ENERGY CORPORATION             NEW ENERGY CORPORATION
(LICENSOR)                              [NECO Energy Corporation]
                                        (LICENSEE)

----------------------------------      ----------------------------------------
By: Frank Dostalek, President           By: John McDonald, President

WITNESS:                                WITNESS:

----------------------------------      ----------------------------------------
By: Lynn Stratford, Secretary           By: Tor Ewald, Secretary

MEGAWATT / NECO TECHNOLOGY LICENSE AGREEMENT                         Page 6 of 6

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