Next-Gen Water Heater Smashes Crowdfunding Goal, Attracts $2M Seed Funding

Inventors and innovators can take heart from this news on the crowdfunding front. What’s being billed as the world’s first all digital water heater, said to save 40% on energy and 10% on water usage, has not only smashed its crowdfunding goal, but also attracted $2 million in seed funding from investors.

Inventors and innovators can take heart from this news on the crowdfunding front. What’s being billed as the world’s first all digital water heater, said to save 40% on energy and 10% on water usage, has not only smashed its crowdfunding goal, but also attracted $2 million in seed funding from investors.

Derek Markham | Feb 22, 2014 | ecopreneurist – Inventors and innovators can take heart from this news on the crowdfunding front. What’s being billed as the world’s first all digital water heater, said to save 40% on energy and 10% on water usage, has not only smashed its crowdfunding goal, but also attracted $2 million in seed funding from investors. The Heatworks Model 1, which was launched on Kickstarter with a $125,000 crowdfunding goal, ended up raising about $430,000 from backers, and will now be fully commercialized, thanks to an additional $2M in seed funding.

The Heatworks, from ISI Technology, has evidently hit on the right balance of features to get people interested in something that normally draws no notice, namely their hot water heater.

“People have become resigned to a mediocre hot water experience, where water takes minutes to heat and changes temperatures without warning.

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.” – Jerry Callahan, CEO of ISI Technology

Featuring no metal parts to rust or leak, no heating elements that can burn out, and no mechanical flow switches that can fail, the Heatworks Model 1 uses graphite electrodes and solid state components for a long and virtually maintenance-free life. The device also features a microprocessor and sensors to constantly measure water temperature and automatically adjust it, as well as smart grid and WiFi connectivity for remote measuring and control.

Due to its small size (12.5″ long and 6″ in diameter), the ability to produce hot water ‘on demand’, and to accept preheated water (such as from a solar water heater), this little water heater could have a variety of applications in both new construction and remodels.

“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. 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.” – Greg Tew, School of Architecture + Design at Virginia Tech

If this little water heater looks like something that would solve your hot water woes, check out the full details at Heatworks.

read more: http://ecopreneurist.com/2014/02/20/next-gen-water-heater-smashes-crowdfunding-goal-attracts-2m-seed-funding/

HEADLINE NEWS

U.S. News & World ReportNo Cash for Hate, Say Mainstream Crowdfunding FirmsU.S. News & World ReportThe block on mainstream crowdfunding is just the latest blow to far-right activists operating online. In the last 24 hours, neo-Nazi website the Daily Stormer had its domain regi [...]

LITTLE GUIDANCE FROM IRS ON TAXING CROWDFUNDING CONTRIBUTIONSBloomberg BNAWe've all heard the stories of crowdfunding appeals that go viral. Whether it's a musician raising money to produce an album, an inventor with a great idea, or a family in distress that needs help, cro [...]

VCCircleNew trends in crowdfunding that make it a potent fund-raising toolVCCircleOver the years, crowdfunding has become popular among entrepreneurs mainly because it's a great way to test the waters before you actually launch the product or service. You understand your idea [...]

FortuneIndiegogo's Difficult Path to Offering Equity CrowdfundingFortuneIndiegogo founder Slava Rubin discusses how Indiegogo's equity crowdfunding service has been performing since its launch in 2016. Photograph by Indiegogo. E-mail; Tweet; Facebook; Linkedin. Share icons. [...]

Telegraph.co.ukSkiTelegraph.co.ukBut now, to supplement her fast food income and to be more certain of joining her older sister Katie, a fixture on the Park and Pipe team, Summerhayes has launched a crowdfunding campaign with PledgeSports to raise some money towards her travel and ... [...]

Crain's Cleveland Business'Smaller' gifts can go long way for Clinic's crowdfunding platformCrain's Cleveland BusinessFor an institution accustomed to securing multimillion-dollar donations, Cleveland Clinic's latest fundraising effort has some relatively [...]

NewshubWoman born without vagina crowdfunding surgeryNewshubThe family of a woman born without a vagina has started a crowdfunding campaign to receive reconstructive surgery. Kaylee Moats, from Arizona, lives with Mayer Rokitansky Küster Hauser syndrome (MRKH) meaning she has no cervi [...]

ForbesWhat Works In Equity Crowdfunding -- Insights From ResearchForbesAs we have recently celebrated the fourth anniversary of the signing of the JOBS Act into law, it is a good time to take stock of the effect that the legislature had on equity crowdfunding in the United States. It [...]

Global Crowdfunding Market 2017-2021PR Newswire (press release)Global Crowdfunding Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The rep [...]

AOL UKShould you forget the stock market and focus on crowdfunding?AOL UKIn recent years, the popularity of crowdfunding has soared. For example, in 2016 the amount raised through crowdfunding surpassed venture capital funding for the first time in its history. By 2025, it is estimate [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

CrowdFund Beat Media

@FintechBeat @2020Fintech Speakers – THE RISE OF BLOCKCHAIN DIGITAL MONEY 2017 FINTECH WORLD WORKSHOP SERIES 2020FINTECH.COM twitter.com/BTCTN/status/8…

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |