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Chapter 642: High-Tech Competition

The widespread adoption of civilian Steam Paddleboats brought another significant benefit: a substantial increase in the installed capacity of marine steam engines.

With dozens of times more civilian vessels than warships, this would accelerate the rapid improvement of steam engines far more effectively than simply installing them on military ships.

'Using civilian industry to support the military' is always the best model for advancing new technologies.

Moreover, paddleboats and the propeller-driven vessels used by the French Navy represented entirely different technological pathways, eliminating concerns about other countries copying civilian designs for military purposes. It was simply perfect.

While Joseph was busy planning the new shipyard, on the outskirts of Birmingham, Britain, Watt was also strategizing about fundraising with his company's major stakeholder, Boulton.

"You must try to let go of certain obsessions," Boulton, with his light blonde hair and melancholic eyes, carefully chose his words, wary of displeasing his genius partner. "Those investors only care about High-Pressure Steam Engines. Sometimes, we have to cater to them."

Watt waved his hand rhythmically. "Everyone knows that thing has no advantages except being prone to explosions!

"Our new 27 horsepower steam engine will be in production next month. That's a truly good product."

Boulton sighed. "My friend, you know that the French High-Pressure Steam Engine reached that power output two years ago. I hear their latest model can produce over 50 horsepower.

"As for explosions, factories don't care about that. At most, a few workers die, and new ones can be replaced immediately. They care about the profits that greater power brings."

Watt lowered his head, stubbornly muttering, "It's just 50 horsepower. I can achieve that without high-pressure technology..."

As they spoke, the two arrived in front of a luxurious, light yellow villa.

Boulton helplessly whispered a warning. "I'm begging you, at least mention the High-Pressure Steam Engine to Sir Faulkner later, or the company's financial problem will truly become a crisis."

Indeed, under fierce competition from French counterparts, the Boulton and Watt Steam Engine Company had seen its sales steadily decline over the past two years, with profits hitting their lowest level in over a decade.

Even worse, the company had been embroiled in the London gas streetlight project last year, becoming a subcontractor for distillation boilers and pressure gauges, and suffered heavy losses.

This led to cash flow problems for the company, forcing Watt and Boulton to bring in new shareholders to overcome the difficulties.

Sir Faulkner warmly welcomed the two into his living room and quickly brought up the investment. "To be frank, my expectation is 50,000 pounds sterling for a 30% stake."

Boulton frowned. "Sir Faulkner, the company's assets are valued over 200,000 pounds sterling, with annual revenues exceeding 40,000 pounds. If you wish to acquire a 30% stake, you would likely need to invest 75,000 pounds sterling."

Faulkner smiled and shook his head. "I'm considering the company's prospects.

"Last year, Upper Hesse purchased 50,000 pounds sterling worth of steam engines for automatic looms, but they chose French goods—the new High-Pressure Steam Engines.

"With all due respect, your company's technology is starting to fall behind. After I invest, I will likely need to continue investing to improve the technology, which carries significant risk."

Boulton quickly interjected, "In fact, we have already begun research into High-Pressure Steam Engines."

He nudged Watt. "Isn't that right, James?"

"Oh, yes, the damned High-Pressure Steam Engine," Watt grumbled reluctantly. "As long as it doesn't explode, everything will be fine..."

Boulton offered an awkward smile and quickly changed the subject.

Over two hours later, Boulton and Watt left the villa looking dejected. Faulkner had not budged, and his offer was unacceptable to them.

As Boulton arrived at his doorstep, he suddenly gritted his teeth and returned to Faulkner's house.

"I fully understand the significance of the High-Pressure Steam Engine," Boulton stated earnestly. "And the company will definitely accelerate its research and development in that area." Faulkner shrugged. "Yet your chief technician seems only interested in standard-pressure steam engines."

Boulton took a deep breath. "Actually, I have a quick way to acquire the technology."

"Oh? Do tell."

"John Sandell of the French United Steam Engine Company," Boulton said. "I know his uncle. If we can bring him on board, we can immediately gain access to High-Pressure Steam Engine technology.

"We have a vast British market. Once we produce the new product, we can quickly defeat the French!"

Faulkner raised an eyebrow and nodded. "All right, if you can secure the High-Pressure Steam Engine, I can invest 75,000 pounds sterling."

...

Freising, in the eastern province of Bavaria.

Count Rheinfels, returning from the negotiating conference for the Rhine-Seine Treaty signatory nations, gazed at the letter freshly arrived from Vienna, his expression somewhat complex.

It was news of the Emperor's death—Leopold II had succumbed to smallpox three days prior.

By rights, he should have been saddened by the Emperor's death, but at this moment, he felt a sense of relief.

He had undoubtedly botched the matter of bringing Britain into the Rhine-Seine Treaty, and Austria's severe trade situation would continue.

Leopold II's death at this precise moment would greatly reduce Vienna's attention to the issue.

And the new Emperor, busy with his coronation, would likely not inquire about it.

Days later, Count Rheinfels' carriage pulled into Schönbrunn Palace. Stepping out of the vehicle, he immediately went to audience with His Majesty, the new Emperor Franz II.

Leopold II's funeral had concluded, and the atmosphere of mourning in Schönbrunn Palace had significantly faded, replaced by servants bustling to arrange the decorations required for the coronation.

Count Rheinfels entered the Grand Gallery, somewhat surprised to see Franz II, dressed in a simple light blue coat, conversing with ministers such as Baron Thugut and Cobentzel.

Moreover, the Empress Dowager and her cousin, Baron Walter, were also present.

He immediately stepped forward and bowed to Franz II with a perfectly executed hand-on-chest salute. "May God forever protect Your Majesty, the esteemed Emperor."

Franz II looked up at him and immediately asked, "Count Rheinfels, you've returned. What was the outcome of the negotiations?"

"Well..." Count Rheinfels had not expected the new Emperor to be so diligent. He had no choice but to force himself to speak. "The vote did not pass. The French mobilized 50,000 troops for a grand exercise in Karlsruhe, and Hesse, Augsburg, and other states, under pressure, switched to opposition votes."

Baron Walter immediately shrieked, "Those shameless Frenchmen!"

Franz II motioned for him not to get agitated, then turned to Baron Thugut. "So, our nation's finances will continue to be hampered by trade?"

Leopold II's death had been so sudden that the young Franz II, abruptly becoming Emperor, felt overwhelmed by countless tasks and didn't know where to begin.