-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DcXuoAzibQEC2JFdOh69Tm5dfIzPazIA9CtcqTyMX9wKyGpYoHRtGhoofFCMWHXR
 XIR5yYvAYeBZSUlL3WikMQ==

<SEC-DOCUMENT>0001125282-03-004377.txt : 20030725
<SEC-HEADER>0001125282-03-004377.hdr.sgml : 20030725
<ACCEPTANCE-DATETIME>20030724193718
ACCESSION NUMBER:		0001125282-03-004377
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030722
FILED AS OF DATE:		20030725

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FUEL TECH N V
		CENTRAL INDEX KEY:			0000846913
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP [3564]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		CASTORWEG 22-24
		CITY:			CURACAO NETHERLANDS
		STATE:			P7

	MAIL ADDRESS:	
		STREET 1:		C/O FUEL TECH INC
		STREET 2:		300 ATLANTIC ST
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BAILEY DOUGLAS G
		CENTRAL INDEX KEY:			0001246268

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21724
		FILM NUMBER:		03801901

	BUSINESS ADDRESS:	
		STREET 1:		C/O FUEL TECH INC
		STREET 2:		300 ATLANTIC STREET
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
		BUSINESS PHONE:		2034259830
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>b326116_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   04/22/03  TZ    -->
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-07-22</periodOfReport>
    <issuer>
        <issuerCik>0000846913</issuerCik>
        <issuerName>FUEL TECH N V</issuerName>
        <issuerTradingSymbol>FTEK</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
      <reportingOwnerId>
            <rptOwnerCik>0001246268</rptOwnerCik>
            <rptOwnerName>BAILEY DOUGLAS G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
       </reportingOwnerRelationship>
   </reportingOwner>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Common Stock, par $0.01</value>
      </securityTitle>
      <transactionDate>
         <value>2003-07-22</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>1988-08-08</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>F</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>32828</value>
         </transactionShares>
         <transactionValue>
           <value>1.75</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Common Stock, par $0.01</value>
      </securityTitle>
      <transactionDate>
         <value>2003-07-22</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>1988-08-08</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>C</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>77172</value>
         </transactionShares>
         <transactionValue>
           <value>1.75</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>152172</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Common Warrant</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>1.75</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-07-22</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>110000</value>
         </transactionShares>
         <transactionValue>
           <value>0.01</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-24</value>
      </exerciseDate>
      <expirationDate>
         <value>2008-04-30</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>1747500</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1637500</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Common Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>1.531</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>1988-08-08</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
         </transactionShares>
         <transactionValue>
           <value>0</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-24</value>
      </exerciseDate>
      <expirationDate>
         <value>2008-07-17</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>10000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>10000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Common Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>2.125</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>1988-08-08</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
         </transactionShares>
         <transactionValue>
           <value>0</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-24</value>
      </exerciseDate>
      <expirationDate>
         <value>2009-06-28</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>10000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>10000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Common Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>2.344</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>1988-08-08</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
         </transactionShares>
         <transactionValue>
           <value>0</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-24</value>
      </exerciseDate>
      <expirationDate>
         <value>2010-06-26</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>10000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>10000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Common Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>3.595</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>1988-08-08</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
         </transactionShares>
         <transactionValue>
           <value>0</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-24</value>
      </exerciseDate>
      <expirationDate>
         <value>2011-06-13</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>10000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>10000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Common Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>6.265</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>1988-08-08</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
         </transactionShares>
         <transactionValue>
           <value>0</value>
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         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-24</value>
      </exerciseDate>
      <expirationDate>
         <value>2012-06-16</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>10000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>10000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Common Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>4.195</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>1988-08-08</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>0</value>
         </transactionShares>
         <transactionValue>
           <value>0</value>
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         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-24</value>
      </exerciseDate>
      <expirationDate>
         <value>2013-05-29</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>10000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>10000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <ownerSignature>
      <signatureName>Douglas G. Bailey</signatureName>
      <signatureDate>2003-07-24</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----