TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preferred Compounds: The transition metals are chosen from cobalt, iron and/or copper. The transition metal compounds are transition metal phthalocyanine complex, transition metal porphyrin complex, transition metal acetyl acetonato complex, transition metal metallocene complex or transition metal salt. The boron compound is trifluoro boron complex, boric acid or borate.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Compound: The nitrogen compound is melamine, phthalocyanine, acrylonitrile or ethylenediamine tetraacetic acid.    TECHNOLOGY FOCUS - POLYMERS - Preferred Process: Alternately, resin containing transition metal compounds is obtained by carrying out thermal reaction of thermosetting resin and transition metal compounds. The obtained polymer is heat processed and carbonized. The carbon material is mixed with nitrogen compound and heat processed to obtain the catalyst. Alternately, thermosetting resin and nitrogen are thermally reacted and polymerized. The obtained polymer is heat processed and carbonized, and the carbon material is further mixed with transition metal compounds and heat processed to obtain the catalyst. A boron-containing compound (14) is further added during the thermal reaction. Preferred Resin: The thermosetting resin is polyfurfuryl alcohol, phenyl formaldehyde resin or melamine resin. EXAMPLE - Furfuryl alcohol (in g) (10) in methanol (100 ml) was prepared. Cobalt phthalocyanine complex (2.090), melamine (7.499) and methanol solution of trifluoro boron methanol complex (118.7) were added in order and stirred. The solvent was removed and the mixture was polymerized at 80degreesC to obtain polyfurfuryl alcohol containing cobalt phthalocyanine complex, melamine and trifluoro boron complex. The obtained polymer was heated to 100degreesC at a rate of 10degreesC/minute after circulating nitrogen, and carbonized to obtain furan formaldehyde resin. The carbonized material was ground and pulverized to obtain carbon alloy microparticles used as electrode catalyst. The electrode catalyst had high current density.