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In pitching for £1.45³¾ Robert and Guy are hoping to secure what would be one of the biggest investments in the Den.

James Caan discovers the pair will sell their submarines at £595,000 each and have letters of intent from a commerical bio-fuels company that says it will need 10 in the next 5 years.

Peter Jones discerns that there has been a glitch between assembling the prototype nas moving to full manufacture.

Robert agrees, saying the technology has taken time to catch up with the partners' aspirations but now they have a craft that is useful, competitve and reliable.

Theo Paphitis asks about similar products and is told their nearest competitors retail at between £800,000 and £900,000. Guy insists they have found a gap in the market they are ready to fill.

Duncan Bannatyne is concerned Robert and Guy value their comapny at £3m and wants to break down the yearly forecasts to establish the varacity of this. He claims that based on eight sells at £595,000 each he values the company at only £1.45³¾.

The Den then erupts into chaos as Duncan, Theo and Deborah attempt to outshout one another as they dispute the meaning of financial terms like assets, capital, balance sheets, and capital investment. Robert and Guy look on as non-plussed observers.

A limp defence of their lack of financial acumen, ("we're engineers, not finance people") fails to assauage the Dragons who briskly declare themselves out in turn.

The deal in the Den:

No investment

Last updated: 21 July 2010