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Heatworks Technologies
Manufactures water heaters for household applications in the United States
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 dataAt 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
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| 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 | — |
Growth signals
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.
Similar companies
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
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
- JCJeremiah Callihan
- TFThomas Fitzpatrick
IAG Capital Partners
Other known investors1 additional known investor
Unreasonable Group
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Heatworks Technologies on X, ranked by likes and reposts, corporate channels excluded.
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Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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