UNTIED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)

Advanced Recycling Technologies, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

00762C 10 1

(CUSIP Number)

12/31/2001

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

	o	Rule 13d-1(b)
	x	Rule 13d-1(c)
	o	Rule 13d-1(d)

CUSIP No.  00762C 10 1 Page  1 of 4

(1)		NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)   UTEK Corporation
(2)		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP						(a) o
		(See Instructions)   Not Applicable						(b) o
(3)		SEC Use Only
(4)		CITIZENSHIP OR PLACE OF ORGANIZATION   Delaware
				(5)		SOLE VOTING POWER   2,326,153
NUMBER OF
SHARES
BENEFICIALLY				(6)		SHARED VOTING POWER   0
OWNED BY
EACH
REPORTING				(7)		SOLE DISPOSITIVE POWER   2,326,153
PERSON WITH				(8)		SHARED DISPOSITIVE POWER     0
(9)		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,326,153
(10)		CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
		SHARES (See Instructions)   Not Applicable						o
(11)		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   13.3%
(12)		TYPE OF REPORTING PERSON (See Instructions)   CO

CUSIP No.  00762C 10 1 Page  2 of 4

Item 1.
		(a) Name of Issuer           Advanced Recycling Technologies, Inc.
		(b) Address of Issuer’s Principal Executive Offices       14771 Myford Rd., Tustin, CA 92780
Item 2.
		(a) Name of Person Filing           UTEK Corporation
		(b) Address of Principal Business Office or, if none, Residence       202 S. Wheeler Street, Plant City, FL 33566
		(c) Citizenship           Delaware
		(d) Title of Class of Securities           Common Stock
		(e) CUSIP Number         00762C 10 1
Item 3.		If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not Applicable
		(a) [   ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
		(b) [   ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
		(c) [   ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
		(d) [   ] Investment company registered under section 8 of the Investment Company              Act of 1940 (15 U.S.C 80a-8);
		(e) [   ] An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
		(f) [   ] An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
		(g) [   ] A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
		(h) [   ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance              Act (12 U.S.C. 1813);
		(i) [   ] A church plan that is excluded from the definition of an investment company under              section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
		(j) [   ] Group, in accordance with §240.13d-1(b)(1)(ii)(J).

CUSIP No.  00762C 10 1 Page  3 of 4

Item 4. Ownership

      With respect to the beneficial ownership of shares of common stock of Advanced Recycling Technologies, Inc. by UTEK
      Corporation, see Items 5 through 8 on page 1 of this Schedule 13G, which is incorporated herein by reference.

Item 5.		Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Not Applicable
Item 6.		Ownership of More than Five Percent on Behalf of Another Person. Not Applicable
Item 7.		Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. Not Applicable
Item 8.		Identification and Classification of Members of the Group Not Applicable
Item 9.		Notice of Dissolution of Group Not Applicable
Item 10.		Certification
		By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

CUSIP No.  00762C 10 1 Page  4 of 4

SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DATED: September 12, 2002

UTEK CORPORATION

BY: /s/ Clifford M. Gross
Chief Executive Officer