In 1769, James Watt, a Scottish engineer, studied a model of Newcomen's engine in a Glasgow University laboratory. His studies led him to work out a way of making the engine more efficient. Watt realised that if the steam was condensed outside of the piston chamber, the chamber would be kept hot and much energy would be saved. He developed a separate structure called a condenser which was kept permanently cold. All he needed then was a method to finance the construction of his steam engine. For this he turned to Matthew Boulton whom he had met in 1798.