Exhibit 10.1
TEAMING AGREEMENT
THIS TEAMING AGREEMENT ("Agreement") is made and effective as of the ____day of February, 2012, by and among Covanta Energy Corporation, a Delaware corporation having its principal place of business at 445 South Street, Morristown, New Jersey 07960 (“Covanta”),RAFAEL Advanced Defense Systems LTD., an Israeli corporation having its principal place of business at POB 2250, Haifa 31021, Israel (RAFAEL and its related affiliates should be considered: “RAFAEL”) and Global Energy, Inc. a Nevada corporation having its principal place of business at Gama Building, 5th Floor, Ramat Gan 52681, Israel (“Global”). Covanta, RAFAEL, and Global shall hereinafter also be referred to individually as a “Party” and collectively as the “Parties.”
WHEREAS, RAFAEL and Covanta intend to submit a Proposal (the "Proposal”) to the Israel-U.S. Binational Industrial Research and Development Foundation ("BIRD") for purposes of obtaining a grant (the “Grant”) to develop a mobile reactor for biomass fuel (the “KDV Mobile Unit”), which is to be based on the KDV 150 technology for converting waste into diesel fuel (the “KDV Technology”).
WHEREAS, Covanta possesses expertise and experience in designing, building and operating infrastructure and equipment that can convert waste into energy, and has certain license rights to develop, design, manufacture, sell, and use the KDV Technology.
WHEREAS, RAFAEL possesses expertise and experience in the scientific research and development of technologies designed to advance Israel’s security interests, and in the production and commercialization of such technologies for international sale.
WHEREAS, Global possesses KDV Technology rights and sales and marketing capabilities, which will contribute to the successful commercialization of the KDV Technology by providing complementary access and penetration to various international markets,
WHEREAS, the Parties desire to bring together their collective expertise and resources, and will participate exclusively with each other in the preparation and submission of the Proposal and the ultimate commercialization of the KDV Mobile Unit.
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