ISI Technology Raises $2M in Seed Funding to Commercialize the First Digital Water Heater
Charleston, SC (PRWEB) February 20, 2014 -- ISI Technology, the inventor of the HEATWORKS MODEL 1 digital water heater, has raised $2 million in seed funding from existing investors. The investment will support production and commercialization of the HEATWORKS MODEL 1 leading up to a national rollout later this year.
The funding announcement comes at the close of ISI’s successful Kickstarter campaign, which raised more than $417,000. More than 1,300 individuals around the world have supported the HEATWORKS MODEL 1, with more than 1,500 water heaters on order.
“People have become resigned to a mediocre hot water experience, where water takes minutes to heat and changes temperatures without warning,” said Jerry Callahan, CEO of ISI Technology. “The HEATWORKS MODEL 1 is the world’s first digital water heater, with a pioneering architecture that reliably provides hot water when you need it, at the exact temperature you like. As more and more people realize it’s time to modernize their water heater, global demand for HEATWORKS MODEL 1 has soared.”
ISI’s HEATWORKS MODEL 1 digital water heater uses a completely new technology to heat water immediately, while reducing water and energy waste:
• Patented Direct Electrical Resistance (DER) heating process directly heats water using electricity to heat the water molecules, delivering immediate, infinite hot water while eliminating all failure modes associated with archaic heating elements
• Digital temperature control uses a solid-state microprocessor and sensors to constantly measures water temperature and auto-adjust power for precise, stable temperature
• Instant hot water eliminates the inefficiency of waiting for hot water, saving up to 40 percent of energy and 10 percent of water
• Compact size reduces required space to a shoebox from a closet
• Wi-fi connectivity brings the water heater into the connected home
“Water heaters, as most of us know them, have been around for more than 100 years, and rely on antiquated technology to deliver one of the most important amenities in the home,” said Greg Tew, Associate Professor and Director of Professional and Industry Relations for the School of Architecture + Design at Virginia Tech. “ISI has developed a much needed technological overhaul to the water heater that delivers the benefits homeowners demand. By delivering impressive levels of comfort, savings, reliability and connectivity, the HEATWORKS MODEL 1 brings the water heater into the modern, connected home.”
About ISI Technology
ISI Technology has invented the world’s first and only digital electric water heater. Using state-of-the-art water electronics technology, ISI’s HEATWORKS MODEL 1 delivers unprecedented comfort, savings, reliability and connectivity—all while bringing the water heater into the modern, connected home. With instant, immediate hot water at digitally precise temperatures, HEATWORKS MODEL 1 eliminates more than 40 percent of energy and 10 percent of water wasted in the heating process. Learn more at http://www.myheatworks.com.
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Media Contact
David Okubo
Antenna Group for ISI Technology
isi(at)antennagroup(dot)com
(415) 977-1943
Jerry Callahan, ISI Technology, http://www.myheatworks.com, +1 (843)860-9484, [email protected]
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