FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * BAILEY RALPH E   2. Issuer Name and Ticker or Trading Symbol FUEL TECH N V [FTEK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman (Last) (First) (Middle) C/O FUEL TECH, 695 E. MAIN STREET 3. Date of Earliest Transaction (Month/Day/Year) 06/02/2006 (Street) STAMFORD, CT 06901 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock               4,650,000 I See footnote (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option

$ 15.95

06/02/2006

A

10,000

06/02/2006

06/02/2016

Common

10,000

$ 0

10,000

D

Units

(2)

06/30/2006

A

6,356

(2)

(2)

Common

6,356

$ 8.68 (2)

36,675

D

Option

$ 1.531

07/17/1998

07/17/2008

Common

10,000

10,000

D

Option

$ 2.125

06/28/1999

06/28/2009

Common

10,000

10,000

D

Option

$ 2.344

06/26/2000

06/26/2010

Common

10,000

10,000

D

Option

$ 3.595

06/13/2001

06/13/2011

Common

10,000

10,000

D

Option

$ 6.265

06/06/2002

06/06/2012

Common

10,000

10,000

D

Option

$ 4.195

05/29/2003

05/29/2013

Common

10,000

10,000

D

Option

$ 4.565

06/03/2004

06/03/2014

Common

10,000

10,000

D

Option

$ 5.995

06/03/2005

06/03/2015

Common

10,000

10,000

D

Warrant

$ 1.75

09/16/2005

04/30/2008

Common

76,478

76,478

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BAILEY RALPH E C/O FUEL TECH 695 E. MAIN STREET STAMFORD, CT 06901	X	X	Chairman

Signatures

Ralph E. Bailey		07/19/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Held 100% by a family limited liability company the interests in which Company are owned 50% by the reporting person and 50% by the spouse of the reporting person. The reporting person holds 100% of the voting power over these Fuel Tech shares.
(2)	Share equivalent units under Directors Deferred Compensation Plan issuable after retirement in cash only.

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