Particulate flows have been largely studied under the simplifying assumptions of one-way coupling regime where the disperse phase do not react-back on the carrier fluid. In the context of turbulent flows, many non trivial phenomena such as small scales particles clustering or preferential spatial accumulation have been explained and understood. A more complete view of multiphase flows can be gained calling into play two-way coupling effects, i.e. by accounting for the inter-phase momentum exchange between the carrier and the suspended phase, certainly relevant at increasing mass loading. In such regime, partially investigated in the past by the so-called Particle In Cell (PIC) method, much is still to be learned about the dynamics of the disperse phase and the ensuing alteration of the carrier flow. In this paper we present a new methodology rigorously designed to capture the inter-phase momentum exchange for particles smaller than the smallest hydrodynamical scale, e.g. the Kolmogorov scale in a turbulent flow. In fact, the momentum coupling mechanism exploits the unsteady Stokes flow around a small rigid sphere where the transient disturbance produced by each particle is evaluated in a closed form. The particles are described as lumped, point masses which would lead to the appearance of singularities. A rigorous regularization procedure is conceived to extract the physically relevant interactions between particles and fluid which avoids any ah hoc assumption. The approach is suited for high efficiency implementation on massively parallel machines since the transient disturbance produced by the particles is strongly localized in space around the actual particle position. As will be shown, hundred thousands particles can therefore be handled at an affordable computational cost as demonstrated by a preliminary application to a particle laden turbulent shear flow.