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Heatworks Technologies

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Manufactures water heaters for household applications in the United States

Mount Pleasant, United StatesFounded 2006Energy
Valuation $25–50M Last recorded · 2021
Headcount <100 Current team size
Total funding $10–50M Disclosed equity funding
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About Heatworks Technologies

Heatworks Technologies operates in the consumer home appliance market, focusing on developing and manufacturing advanced water heating solutions. The company was founded in 2006 by Jerry Callahan, an entrepreneur with a background in fixing and growing companies, including co-founding Blue Rhino, a propane cylinder exchange company. The idea for Heatworks emerged from Callahan's personal frustration with the inefficiency of existing electric water heaters, which he discovered used technology largely unchanged since the 1870s.

The core of the company's product line is its patented Ohmic Array Technology. This technology uses graphite electrodes and electronic controls to directly excite the natural minerals in water, heating it instantly and efficiently without traditional metal heating elements that are prone to rust and scaling. This method allows for precise temperature control, high purity, and an energy efficiency of 99%. The business model includes direct-to-consumer sales of its products and a long-term goal of licensing its core technology to partners in various industries.

Heatworks has developed several products for the residential market. The MODEL 3 is a Wi-Fi-enabled, tankless electric water heater that provides endless hot water on demand and can be controlled via a mobile app. Another significant product is the Tetra, a compact countertop dishwasher that requires no plumbing connections. Users manually add water, and it can wash up to three place settings, using significantly less water than handwashing. The Tetra also features specialized cycles for delicate items and even for washing fruit. The company also developed the DUO, a battery-operated carafe that filters and heats water instantly as it pours. In August 2022, a court in South Carolina appointed a receiver for the company. One source indicated the company was out of business as of May 2024.

Source: Dealroom company data

At a glance

Status
Closed
Founded
2006
Headquarters
Mount Pleasant, United States
Employees
12
Open positions
None listed
Dealroom signal
0.0/100
Industry
Energy, Home Living
Sub-industry
Water
Sector
Energy, Appliances, Water Heating, Hard Tech
Business model
Manufacturing, Marketplace & ecommerce
Client focus
b2c

Funding history

10 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
LATE VC✓Equity / VC Dec 2021 $2M $40M Undisclosed ↗
LATE VC✓Equity / VC Aug 2020 $450K $1.8M Jeremiah Callihan · WAVE Equity Partners · Thomas Fitzpatrick · IAG Capital Partners —
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Growth signals

Heatworks Technologies website traffic

Latest recorded traffic for Heatworks Technologies is 18K monthly website visits, up 12.5% over the last three months. Heatworks Technologies's team grew 0% over the past year.

Latest monthly visits18K 3-month web change+12.5% 1-year team growth0%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

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Showing 8 of the closest matchesCompare every metric →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

7 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A3 investors entered at this stage

  • South Carolina Research Authority
  • Microsoft for Startups
  • WAVE Equity Partners

Series B and later3 investors entered at this stage

  • Jeremiah Callihan
  • Thomas Fitzpatrick
  • IAG Capital Partners

Other known investors1 additional known investor

  • Unreasonable Group
Team profiled 3 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 1 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
2 countries with
team presence
🇮🇳 India50%
🇲🇽 Mexico50%
2 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Heatworks Technologies on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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