Thaddeus Lowe, an American balloonist, held several patents on ice-making machines. His "Compression Ice Machine" would revolutionize the cold-storage industry. In 1869, he and other investors purchased an old steamship onto which they loaded one of Lowe's refrigeration units and began shipping fresh fruit from New York to the Gulf Coast area, and fresh meat from Galveston, Texas back to New York, but because of Lowe's lack of knowledge about shipping, the business was a costly failure.