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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 fYOaJYAXlziuU9izpV5MUg==

<SEC-DOCUMENT>0000064463-03-000081.txt : 20031222
<SEC-HEADER>0000064463-03-000081.hdr.sgml : 20031222
<ACCEPTANCE-DATETIME>20031222102118
ACCESSION NUMBER:		0000064463-03-000081
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031222
FILED AS OF DATE:		20031222

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHEUER CYNTHIA A
		CENTRAL INDEX KEY:			0001251272

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06890
		FILM NUMBER:		031066629

	MAIL ADDRESS:	
		STREET 1:		2757 DOELNER CIRCLE
		CITY:			CASTLETON
		STATE:			NY
		ZIP:			12033

ISSUER:		

	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:			1231

	BUSINESS ADDRESS:	
		STREET 1:		431 NEW KARNER ROAD
		STREET 2:		BUILDING #4
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12205
		BUSINESS PHONE:		5185332200

	MAIL ADDRESS:	
		STREET 1:		431 NEW KARNER ROAD
		STREET 2:		BUILDING #4
		CITY:			ALBANY
		STATE:			NY
		ZIP:			12205
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>sch127.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-12-22</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000064463</issuerCik>
        <issuerName>MECHANICAL TECHNOLOGY INC</issuerName>
        <issuerTradingSymbol>MKTY</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001251272</rptOwnerCik>
            <rptOwnerName>SCHEUER CYNTHIA A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>431 NEW KARNER ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ALBANY</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>12205</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>0</isDirector>
			<isOfficer>1</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
			<officerTitle>VP &amp; CFO</officerTitle>
		</reportingOwnerRelationship>
	</reportingOwner>
	<derivativeTable>
		<derivativeTransaction>
			<securityTitle>
				<value>Employee Stock Options (Rights to Buy)</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>21.625</value>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-12-22</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>D</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
				<footnoteId id="F1"/>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>30000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<exerciseDate>
				<value>2001-03-30</value>
			</exerciseDate>
			<expirationDate>
				<value>2010-03-29</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>30000.00</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>0.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeTransaction>
		<derivativeTransaction>
			<securityTitle>
				<value>Employee Stock Options (Rights to Buy)</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>12.9625</value>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-12-22</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>D</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
				<footnoteId id="F1"/>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>10000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<exerciseDate>
				<value>2001-06-20</value>
			</exerciseDate>
			<expirationDate>
				<value>2010-06-19</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>10000.00</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>0.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeTransaction>
	</derivativeTable>
	<footnotes>
		<footnote id="F1">Represents options cancelled pursuant to the Company's offer to exchange the then outstanding options.  New options will be granted shortly after June 23, 2004.</footnote>
	</footnotes>
	<remarks>
	</remarks>
	<ownerSignature>
		<signatureName>/s/ Scheuer, Cynthia A.</signatureName>
		<signatureDate>2003-12-22</signatureDate>
	</ownerSignature>
</ownershipDocument>

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