-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 QtKubqn4iG7VlzA3SB1+5g==

<SEC-DOCUMENT>0001125282-03-005333.txt : 20030918
<SEC-HEADER>0001125282-03-005333.hdr.sgml : 20030918
<ACCEPTANCE-DATETIME>20030918112824
ACCESSION NUMBER:		0001125282-03-005333
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030916
FILED AS OF DATE:		20030918

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:			GRINNELL CHARLES W
		CENTRAL INDEX KEY:			0001246220

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21724
		FILM NUMBER:		03900622

	BUSINESS ADDRESS:	
		STREET 1:		C/O CLEAN DIESEL TECHNOLOGIES INC
		STREET 2:		300 ATLANTIC ST
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
		BUSINESS PHONE:		2033277050
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>b327174_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-09-16</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000846913</issuerCik>
        <issuerName>FUEL TECH N V</issuerName>
        <issuerTradingSymbol>FTEK</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001246220</rptOwnerCik>
            <rptOwnerName>GRINNELL CHARLES W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CLEAN DIESEL TECHNOLOGIES INC</rptOwnerStreet1>
            <rptOwnerStreet2>300 ATLANTIC ST</rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06901</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Vice President</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-09-16</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>7500</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>2.625</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>33589</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
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   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
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      <transactionDate>
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      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>S</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>7500</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>6.00</value>
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         <transactionAcquiredDisposedCode>
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   </nonDerivativeTransaction>
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 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Stock Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>2.625</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-09-16</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
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           <value>7500</value>
         </transactionShares>
         <transactionPricePerShare>
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      <exerciseDate>
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      <expirationDate>
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      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
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           <value>7500</value>
         </underlyingSecurityShares>
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   <derivativeTransaction>
      <securityTitle>
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      <conversionOrExercisePrice>
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      <transactionDate>
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         <transactionAcquiredDisposedCode>
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      <exerciseDate>
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      <expirationDate>
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      <underlyingSecurity>
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         <underlyingSecurityShares>
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   <derivativeTransaction>
      <securityTitle>
         <value>Stock Option</value>
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      <conversionOrExercisePrice>
         <value>2.0625</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2000-08-02</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
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      <transactionAmounts>
         <transactionShares>
           <value>25000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2002-08-02</value>
      </exerciseDate>
      <expirationDate>
         <value>2010-08-02</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>25000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>25000</value>
         </sharesOwnedFollowingTransaction>
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      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Stock Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>1.50</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2001-02-22</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>20000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-02-22</value>
      </exerciseDate>
      <expirationDate>
         <value>2011-02-22</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>20000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>20000</value>
         </sharesOwnedFollowingTransaction>
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      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Stock Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>5.98</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2002-02-28</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>15000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2004-02-28</value>
      </exerciseDate>
      <expirationDate>
         <value>2012-02-28</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>15000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>15000</value>
         </sharesOwnedFollowingTransaction>
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      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
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   </derivativeTransaction>
 </derivativeTable>
   <ownerSignature>
      <signatureName>Charles W. Grinnell</signatureName>
      <signatureDate>2003-09-17</signatureDate>
   </ownerSignature>
</ownershipDocument>

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