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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000064463-00-000007.txt : 20000110
<SEC-HEADER>0000064463-00-000007.hdr.sgml : 20000110
ACCESSION NUMBER:		0000064463-00-000007
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19991231
FILED AS OF DATE:		20000107

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MECHANICAL TECHNOLOGY INC
		CENTRAL INDEX KEY:			0000064463
		STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
		IRS NUMBER:				141462255
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		
		SEC FILE NUMBER:	000-06890
		FILM NUMBER:		503546

	BUSINESS ADDRESS:	
		STREET 1:		325 WASHINGTON AVENUE EXTENSION
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12205
		BUSINESS PHONE:		518-218-2500

	MAIL ADDRESS:	
		STREET 1:		968 ALBANY SHAKER RD
		STREET 2:		968 ALBANY SHAKER RD
		CITY:			LATHAM
		STATE:			NY
		ZIP:			12110
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			MECHANICAL TECHNOLOGY INC
	CENTRAL INDEX KEY:			0000064463
	STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
<RELATIONSHIP>OFFICER
	IRS NUMBER:				141462255
	STATE OF INCORPORATION:			NY
	FISCAL YEAR END:			0930

FILING VALUES:
	FORM TYPE:		4

BUSINESS ADDRESS:	
	STREET 1:		325 WASHINGTON AVENUE EXTENSION
	CITY:			ALBANY
	STATE:			NY
	ZIP:			12205
	BUSINESS PHONE:		518-218-2500

MAIL ADDRESS:	
	STREET 1:		968 ALBANY SHAKER RD
	STREET 2:		968 ALBANY SHAKER RD
	CITY:			LATHAM
	STATE:			NY
	ZIP:			12110
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<TEXT>

<TABLE>
FORM 4                                          U.S. SECURITIES AND EXCHANGE COMMISSION                       OMB APPROVAL
                                                      WASHINGTON, D.C.   20549                        OMB NUMBER:       3235-0362
[ ] Check this box if no longer                                                                       Expires: September 30, 1998
    subject to Section 16.  Form 4                                                                    Estimate average burden
    or Form 5 obligations may                                                                         hours per response..... 0.5
    continue.  See Instructions 1(b)
                                              STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
                                  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(f) of the Investment Company Act of 1940
(Print or Type Responses)

1.Name and Address of Reporting Person* 2. Issuer Name and Ticker                     6.Relationship of Reporting Person to Issuer
                                           or Trading Symbol                                        (Check all applicable)

Scheuer          Cynthia     A.            Mechanical Technology Incorporated
                                           (MKTY)                                            Director                   10% Owner
                                                                                       -----                      -----
                                                                                          x  Officer (give               Other
(Last)       (First)    (Middle)        3. IRS or Social Security  4. Statement for    -----         title below) ----- (specify
                                           Number of Reporting        Month/Year                                          below)
 c/o Mechanical Technology Incorporated    Person (voluntary)                       Vice President and Chief Financial Officer
   325 Washington Avenue Extension                                     12/99        --------------------------------

             (Street)                                              5. If Amendment,    7. Individual or Joint/Group Filing
                                                                      Date of Original    (check Applicable Lines)
Albany       New York       12205-5505                             (Month/Year)        X  Form Filed by One Reporting Person
                                                                                          ---
(City)       (State)       (Zip)                                                              Form Filed by More than One
                                                                                          --- Reporting Person
- - --------------------------------------------------------------------------------------------------------------------------------

                                       TABLE I  NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED

1. Title of Security                    2. Trans-  3. Trans-     4. Securities Acquired    5. Amount of  6. Owner-    7. Nature
   (Instr. 3)                              action     action        (A)or Disposed of (D)     Securities    ship         of
                                           Date       Code                                    Benefic-      Form:        Indirect
                                                      (Instr. 8)       (Instr. 3, 4 and 5)    ially         Direct       Bene-
                                        (Month/                                               Owned at      (D) or       ficial
                                         Day/      Code     V      Amount  (A) or Price       End of        Indirect     Owner-
                                         Year)                             (D)                Month         (I)          ship
                                                                                              (Instr. 3     (Instr.      (Instr.
                                                                                              and 4)        4)           4)
<S>                                    <C>          <C>              <C>   <C>     <C>         <C>            <C>        <C>

Common Stock                          12/20/99       M              6,250   A     $3.80         11,250        D

Common Stock                          12/20/99       M              3,750   A     $5.29167      11,250        D

Common Stock                          12/20/99       S              3,750   D     $21.56        11,250        D

Reminder:  Report on a separate line for each class of securities beneficially owned directly or indirectly.               (Over)

*  If the form is filed by more than one reporting person, see Instructions 4(b)(v)                               SEC 1474 (7-96)
- - ---------------------------------------------------------------------------------------------------------------------------------

FORM 4 (CONTINUED)      TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
                                (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

1.Title of    2.Conver-  3.Trans-  4.Transac-   5.Number of   6.Date Exer-  7.Title          8.Price  9.Number   10.Owner- 11.Na-
  Derivative    sion or    action    tion Code    Derivative    cisable       and Amount      of       of Deriv-   ship      ture
  Security      Exercise   Date      (Instr. 8)   Securities    and Expir-    of Under-       Deriv-   ative       Form      of In-
  (Instr. 3)    Price      (Month/                Acquired (A)  ation Date    lying           ative    Secur-      of De-    direct
                of         Day/                   or Disposed   (Month/       Securities      Secur-   ities       rivative  Bene-
                Deriva-    Year)                  of (D)        Day/Year)                     ity      Bene-       Secu-     ficial
                tive                              (Instr. 3,-                  (Instr. 3      (Instr   ficially    rity;     Own-
                Security                          4, and 5)                    and4)          . 5)     Owned       Direct    ership
                                                                                                       at End      (D) or    (Instr
                                                                                     Amount            of          Indi-     . 4)
                                                              Date   Expir-          or                Month       rect (I)
                                                              Exer-  ation   Title   Number            (Instr.     (Instr.
                                                              cisa-  Date            of                4)          4)
                                   Code    V    (A)    (D)    ble                    Shares
Employee
Stock Option  $3.80         12/20/99       M          6,250 10/20/99(1)10/20/07Common 6,250    $3.80   11,250       D
                                                                               Stock
Employee
Stock Option  $5.29167      12/20/99       M          3,750 12/18/99(2)12/18/08Common 3,750    $5.2916711,250       D
                                                                               Stock

Explanation of Responses:
1   Original stock grant of 15,000 shares at 5.70 per share (22,500 at 3.80 post-split) vested at 25% per year
    beginning 10/20/98.

2   Original stock grant of 10,000 shares at 7.93757 per share (15,000 at 5.29167 post-split) Vested at 25% per
    year beginning 12/18/99.


**  Intentional misstatements or omissions of facts                                                 January 7, 2000
    constitute Federal Criminal Violations.                        --------------------------------- --------------
    See 18 U.S.C. 1001 and 15. U.S.C. 78ff(a).                     **Signature of Reporting Person        Date
                                                                             Cynthia Scheuer

Note:  File three copies of this Form, one of which must be manually signed.  If space is insufficient,
see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.
</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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