Document:

Technology cooperation agreement, dated on May 22, 2006

 Exhibit 10.2 
 Technology Development (Cooperation) Agreement 
 (English Translation) 
 Party A: Fujian Gushan Bio-Diesel Co. Ltd 
 Registered office:
No.12 Ting Jiang Chang An Investment Zone, Mawei, Fuzhou, Fujian, China. 
 Legal representative: Yu Jianqiu 
 Party B: Fujian Province Chemical Industry Institute of Science and Technology 
 Registered office: No. 18 Shui Tou Road, Fuzhou, Fujian, China 
 Legal representative: Jiang Guoliang

 Whereas Party A is an enterprise specialized in researching and producing chemical products, such as bio-diesel, etc, while as a professional
research institution, Party B has plenty research resources. In order to facilitate each other’s business and bring each of their advantages into full play in their bio-energy R&D joint project, Party A and Party B, based on the true and
full expression of their wishes and through friendly consultation, enter into this Agreement pursuant to the provisions of “Contract Law of the People’s Republic of China” and promise to be bound by this Agreement. 
 Article 1 
 Name of the Project 

  

	1.1	Both Parties to this Agreement jointly research and develop bio-energy in their Detoxification of Castor-seed Meal Research Project. 

 Article 2 
 Requirement of the
Project 
  

	2.1	Objective of the Technology Research: Castor-seed Meal for animals feed does not have adverse influence on the growth of animals and the quality of their meal and milk.

  

	2.2	Content of the Technology Research: Detoxification of castor-seed meal research 

  

	2.3	Technical Methods and Route: Economical and practical 

 Article 3 
 Cooperation Plan, Progress, Time Limit, Location and Method 
  

	3.1	Party A set up “Fujian Gushan Bio-Energy Technology Development Centre”, and organize a research team, headed by Chen Deyu, dedicated to the research, development,
application and industrialization of bio-energy. Party B provides technical support. 

	3.2	Party B may set up “Fujian Gushan Bio-Energy Technology Development Centre” laboratory at its site and organize a research team, headed by Lin Yu, to carry out the
research with respect to this Project. Party A agrees to pay Party B RMB1,000,000 yuan each year as research fund. The method of payment is: (1) Party A pays Party B RMB50,000 yuan upon signing of this Agreement; (2) the second installment
of RMB250,000 yuan shall be paid to Party B prior to December 30, 2006; (3) the third installment of RMB350,000 yuan shall be paid to Party B prior to June 30, 2007; (4) the fourth installment of RMB350,000 yuan shall be paid to
Party B prior to December 30, 2007. The facilities, equipments, materials, etc Party B purchased using the fund for the purpose of the research shall be Party B’s property. 

  

	3.3	Party A and Party B will meet once every two months, and explain to each other the progress of the Project, the their research achievements of respective phase, the items that need
the other party’s cooperation, and discuss the work plan for the next step. The Project directors from both Parties shall sign in the minute of each meeting. 

  

	3.4	Party B may use its existing technologies, facilities and the data, information, research achievements of each phase provided by Party A with respect to this Project to promote the
R&D of the Project. 

  

	3.5	Party A may use the existing technologies, facilities and the data, information, research achievements of each phase provided by Party B with respect to this Project to promote the
R&D of the Project. 

  

	3.6	The cooperation term of the Project is two years, Party B shall provide Party A the research result and relevant technical documents that can meet the objective of the technology
specified in Article 2.1 of this Agreement, and assist Party A’s technicians in mastering this technology. 

 Article 4

 Termination of the Agreement 
  

	4.1	In the course of performing this Agreement, if the technology as the subject matter of this R&D Project has been made public by others (including publication in terms of patent
right), one party to this Agreement shall inform the other party to terminate the Agreement within 10 days since it become aware of or should have known this matter. If one party’s default in issuing such notice incurred losses suffered by its
cooperating party, the cooperating party shall have the right to ask for indemnity. 

  

	4.2	In the event that Party B delays to fulfill its liabilities under this Agreement or failed to obtain research achievements of each phase that satisfy Party A within reasonable time
period, Party A has the right to terminate this Agreement. 

  

	4.3	The notice of such termination shall be in writing and take effect on the date on which it is delivered to the other party by registered letter. 

 Article 5 
 Special Covenant 
  

	5.1	In the event that Party B failed to provide Party A the research result and relevant technical documents that can meet the objective of the technology specified in Article 2.1 of
this Agreement, and failed to assist Party A’s technicians in mastering this technology, or Party A achieved the technology objective earlier than Party B, there is no need for Party A to pay the last installment of the research fund.

  

	5.2	In the course of performing this Agreement, if the research completely or partially failed due to encountering a technical difficulty that can not be overcome under current
circumstance or using current technology, Party A has the right to inform Party B to halt related research and stop the payment of the remaining part of the fund. 

  

	5.3	The Party using the existing technology to proceed with the R&D of this Project shall warrant that the technology it provided does not violate the legitimate rights and
interests of any third party. In the event that a third party files a lawsuit against a Party or both Parties to this Agreement, alleging an infringement by the foregoing parties’ using this technology, the Party providing the technology shall
undertake the damage liability. 

 Article 6 
 Confidentiality 
  

	6.1	Any information with respect to the other Party and this Project acquired by any Parties to this Agreement (including, without limitation, documents, technology and research
achievements of each phase provided by the other Party) shall be given the same degree of attention, but no less than reasonable degree to preserve the confidentiality of said information. Parties shall prevent unauthorized use, diffusion and
publication of the said information the way as if protecting their own confidential information alike. 

  

	6.2	The receiving Party of the foregoing information shall not disclose or permit others to disclose the confidential information to anyone, and shall undertake the liability arising
from the violation of the confidential provision set forth in this Article 6.2 and the misuse of information by its affiliates, employees or anyone who obtains the confidential information from it. 

  

	6.3	The receiver of the forgoing information shall only use the information for the purpose of this Project, except for getting the aforesaid disclosing Party’s explicit consent in
writing, the receiver shall not use or permit the use of the foregoing information for its own or others’ benefits. 

 Article 7 
 Intellectual Property Ownership 
  

	7.1	Both Parties to this Agreement agree that all technology achievements (including the achievements in each phase) and related intellectual property rights belong to Party A.

  

	7.2	Both Parties to this Agreement agree that any Parties have rights to make further improvement on the final technology achievement accomplished by this Project, and the new
achievements with substantive or creative technological progress features shall belong to Party A. Party A shall pay Party B reasonable expense if the new achievements are independently accomplished by Party B. 

 Article 8 
 Governing Law and Dispute
Settlement 
  

	8.1	The execution, performance, validity, interpretation, conflicts and disputes settlement of this Agreement shall be governed by PRC law. 

  

	8.2	All conflicts or disputes arising from or related to the performance of this Agreement shall be settled by Parties to this Agreement through friendly consultation and may be
submitted to Fuzhou Arbitration Commission for arbitration if the consultation failed or cannot be carried out within 30 days after the occurrence of such conflicts or disputes. The arbitration award shall be final and binding upon both Parties to
this Agreement. The arbitration fee (including travel expense of those who appear in the court and reasonable attorney fee) shall be burden by the losing party. 

  

	8.3	Save for the part in dispute, which is undergoing arbitration, all Parties shall continue to perform the remaining parts of this Agreement. 

 Article 9 
 Supplement, Amendment,
Assignment 
  

	9.1	Any supplement or amendment to this Agreement shall be made by both Parties in writing. The supplemental contract is the component of this Agreement and has the same legal effect
with the Agreement. 

  

	9.2	Any Parties to this Agreement shall not assign any of its rights or liabilities under this Agreement to any third parties. 

 Article 10 
 Tax and Fee

  

	10.1	All Parties to this Agreement shall severally burden the tax and fee payable by them, arising from the execution and performance of this Agreement. 

 Article 11 
 Validity and Miscellaneous 
  

	11.1	This Agreement shall take effect upon signing by Parties or their authorized representatives. 

  

	11.2	In the event that part of the Agreement is invalid or ceased to be in effect due to laws, regulations or government orders, the other parts shall remain valid, and the Parties to
this Agreement shall perform this Agreement in accordance with the general principles of this Agreement. The invalid or ineffective clauses shall be replaced by the valid clauses best corresponding with each Party’s purpose when entered into
this Agreement. 

  

	11.3	The heading used in this Agreement is designed only to facilitate reading, and shall not affect the interpretation of the content of this Agreement. 

  

	11.4	This Agreement is signed in Chinese. 

  

	11.5	This Agreement is in duplicate with each Party holds one counterpart, which has the same legal effect. 

 Party A: Fujian Gushan Bio-Diesel Co. Ltd (company chop) 
  

			
	By:	 	  

 Legal Representative / Designated Agent (authorized signature): 
  
 May 22, 2006 
 Party B: Fujian Province Chemical Industry Institute of Science and Technology (company chop) 
  

			
	By:	 	  

 Legal Representative / Designated Agent (authorized signature): 
  
 May 22, 2006Technology cooperation agreement, dated on June 6, 2006

 Exhibit 10.3 
 Contract on Technology Development (Cooperation) 
 (English Translation) 
  

					
	Party A:	  	Fujian Gushan Biological Diesel Co., Ltd.
	Address:	  		  	12 Port Area in Chang’an Investment Zone, Tingjiang, Mawei
		  		  	District Fuzhou City
	Legal representative:	  		  	Yu Jianqiu
		  		  	
	Party B:	  	Fuzhou University Resources and Environment Research Institute
	Address:	  		  	Inside Fuzhou University 523 Industrial Road Fuzhou City
	Legal representative:	  		  	Li Yulin

 Whereas: Party A is an enterprise specialized in the research and production of chemicals such as biological
diesel, and Party B is a research structure possessing ample resources for scientific research. To learn each other’s good points for common progress and display their respective advantages, both parties conclude, through friendly negotiation
and on the basis of true and ample expression of their respective wills, following contract for joint observation on joint participation in the technological project for research and development of biomass energy in accordance with “Contract
Law of the People’s Republic of China”. 
 Section 1 Project name 
 1.1 Biomass technology-applied research on the technology of converting castor culm wood fiber into methanol 
 Section 2 Project requirements 
 2.1 Technical goal: Best extraction process of liquefying and converting castor culm wood fiber into
methanol 
 2.2 Technical contents: Fixing some major physical and chemical properties and quality indexes of caster culm wood fiber; exploration of
extraction method; optimization and re-verification of extraction process; fixing some monitoring indexes and quality indexes of products, and the monitoring methods 
 2.3 Technical methodology and line: Economical and practical enzyme extraction method; buffer salt extraction method, and fixing the best extraction conditions 
 Section 3 Cooperation plan, progress, period, place, and mode 
 3.1 Party A shall set up “Fujian Gushan Biomass Technology Development Center” and organize a scientific research team led by Chen Deyu to engage in the research, development, technical application, and industrialization of
biomass energy, for which Party B shall provide technical direction. 
 3.2 Party B may establish at its place “Fujian Gushan Biomass Technology
Development Center” laboratory and organize a scientific research team led by Li Yulin to develop scientific research activities in respect of this project, and Party A agrees to provide 1,000,000 RMB Yuan as scientific research expenses for
Party B. Such expenses shall be paid as follows: (1) pay 50,000 Yuan to Party B after signing this Agreement; (2) pay 400,000 Yuan as the second phase of expenses to Party B before Dec. 30, 2006; (3) pay 750,000 Yuan as the third
phase of expenses to Party B before Jun. 30, 2007; (4) pay 800,000 Yuan as the fourth phase of expenses to Party B before Dec. 30, 2007. Party B shall own the equipment, apparatus, materials, etc., which are purchased by Party B by means of the
research and development expenses and related to such research and development. 
 3.3 Party A and Party B shall hold a brief meeting every two months to
inform each other of their progress of the project and respective periodical research results, fix the items for cooperation, and discuss the work plan for next stage, and the project executives of both Party A and Party B shall sign on the meeting
memo. 
  

 3.4 Party B may make use of its existing technology, equipment, and the data, materials, and periodical research results
provided by Party A relating to this project to promote the development and research of this project. 
 3.5 Party A may make use of its existing technology,
equipment, and the data, materials, and periodical research results provided by Party B relating to this project to promote the development and research of this project. 
 3.6 The cooperation period of this project shall be two (2) years before expiry of which Party B shall submit to Party A the research results sufficient to realize the technical goal described in Section 2.1
hereof and relevant technical documents and assist Party A’s technical personnel to grasp such technology. 
 Section 4 Cancellation of this
contract 
 4.1 If the technology as the object of research and development is disclosed (including disclosure in the form of patent right) during
performance of this contract, any cooperating party shall, within ten (10) days after such cooperating party has learned or should have learned such information, notify the other party for cancellation of this contract. The other cooperating
party shall have the right to ask for compensation for its loss due to failure of such notice within the provided period. 
 4.2 Party A shall have the right
to cancel this contract if Party B slacks off in performance of its obligations provided hereof or fails within reasonable period to obtain periodical research results satisfying Party A. 
 4.3 The notice for cancellation of this contract shall be made in written form and take effect on the day of being served on the opposite party herein through registered
letter. 
 Section 5 Special agreement 
 5.1 If Party
B fails before expiry of the cooperation period to submit to Party A the research results sufficient to realize the technical goal described in Section 2.1 hereof and relevant technical documents and assist Party A’s technical personnel to
grasp such technology or Party A earlier than Party B realizes the technical goal of this project, Party A shall not necessarily pay the final phase of scientific research expenses. 
 5.2 If the occurrence of any technical difficulty that can not be overcome by means of existing technology and conditions leads to the failure or partial failure of the research and development during performance of
this contract, Party A shall have the right to inform Party B to stop relevant research and stop payment of the part of scientific research expenses that have not been paid. 
 5.3 The party making use of existing technology in the research and development of this project shall ensure that the technology it provides does not infringe the legitimate rights and interests of any third party; if
any third party charges one party or two parties hereof with infringement for execution of the technology, the party providing such technology shall bear the liability for damages. 
 Section 6 Confidentiality 
 6.1 Any party hereto shall maintain, with the same degree of care and the degree of
care no less than what is reasonably necessary, the confidentiality of any information (including but not limited to the materials, technology and periodical research results, etc. provided by the other party) relating to the other party hereof and
this project and such party gets in contact with, and prevent unauthorized use, dissemination or publication of such confidential information just as it maintains all its confidential information of similar nature. 
 6.2 The recipient of above information shall not disclose or permit to be disclosed any confidential information and shall bear liabilities for any breach of the
confidential stipulation herein or abuse of above information by any associated party or employee of such recipient or any other person acquiring the confidential information from such recipient. 

 6.3 The recipient of above information shall use such information only in this project. Without the prior and explicit
written consent from the party disclosing above information, the recipient shall not use the said information to seek gains for itself or any other party or permit such use. 
 Section 7 Ownership of intellectual property 
 7.1 The two parties hereto admit and acknowledge that all the
technical results arising out of performance of this contract (including periodical technological results) and relating intellectual property shall belong to Party A. 
 7.2 The two parties hereto admit and acknowledge that any party shall have the right to make subsequent improvements of the final technological results acquired from the research and development of the project herein,
of which any new technological result characteristic of substantial or creative technological improvement shall belong to Party A. If Party B makes such improvements independently, Party A shall pay reasonable fee to Party B. 
 Section 8 Governing law and dispute resolution 
 8.1 The
conclusion, performance, validity, interpretation, and dispute resolution shall be governed by laws of the People’s Republic of China. 
 8.2 Any
dispute arising out of performance of or relating to this contract shall first be resolved by the parties herein through friendly consultation; if such dispute fails to be resolved through consultation or such consultation has not started within
thirty days after its occurrence, such dispute shall be submitted to Fuzhou Arbitration Committee for arbitration in Fuzhou City according to its rules and procedure then effective. The arbitral award shall be final and binding upon all parties
herein. The arbitration expenses (including the traveling expenses for the people appearing in court and reasonable lawyers’ fee) shall be borne by the losing party. 
 8.3 Except for the disputed part under arbitration, the parties herein shall continue to perform the other parts herein. 
 Section 9 Supplement, amendment, and assignment 
 9.1 Any supplement or amendment hereto shall be made by both parties in written form
and the supplemental contract shall be part hereof and have the same legal effect. 
 9.2 No party hereto shall assign any of its rights or obligations under
this contract to any third party. 
 Section 10 Taxes and expenses 
 10.1 The parties hereto shall respectively bear the due taxes and expenses out of the execution and performance of this contract. 
 Section 11 Taking effect and miscellaneous 
 11.1 This contract shall take effect from the day of being executed and stamped by the
parties or their authorized agents. 
 11.2 If any part of this contract is invalid or becomes invalid due to laws, regulations or governmental orders and
the other parts herein remain valid, the parties herein shall perform this contract pursuant to the general principles herein, the sections invalid or becoming invalid shall be substituted by valid sections reflecting to the greatest extent the
intention of the parties herein at the time of signing this contract. 
 11.3 The headings used herein shall serve only for convenience and shall not in any
case affect interpretation of the contents herein. 

 11.4 This contract shall be executed in Chinese. 
 11.5 This contract shall consist of two originals of the same legal effect, with one for each party respectively. 
 Party A:
Fujian Gushan Biological Diesel Co., Ltd. (stamp) 
 Legal representative/authorized agent (signature): 
 Date: Jun. 6, 2006 
 Party B: Fuzhou University Resources and Environment
Research Institute 
 Legal representative/authorized agent (signature): 
 Date: June 6, 2006

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