He also worked on a project for the conversion of iron which was not dis-similar to that which was eventually patented by Henry Bessemer. A reluctant patentor, and in this instance still working through some problems in his method, Nasmyth abandoned the project after hearing of Bessemer's ideas in 1856. Bessemer, however, acknowledged the efforts of Nasmyth by offering him a one-third share of the value of his patent for the eponymous Bessemer process. Nasmyth turned it down as he had decided to retire.