In 1889, the first commercial storage tank water heater was invented, which was efficient but expensive because of its thick copper body. Later in 1929, Stiebel-Elton introduced the first electric tankless water heater, succeeding the previous model. However, the latter wasn’t a popular alternative until the 1970s. Europe began incorporating more and more energy-saving systems. And it led the tankless models to create a visible impact in the US market. Since then, technology has fuelled many reforms and breakthroughs across the industrial landscape. However, ‘Hot water as a service’ is the next evolution, it aims to remove the typical hot water hassles from facility mangers. Establishments need tech-based assertive solutions to meet customer expectations and increase profits. One company, rising to the occasion, is Intellihot. Its innovative tankless water heating systems are designed to reduce hazards, conserve energy, and deliver a safe and reliable performance, setting an industry standard.
HOT WATER WITH AN IQ
Intellihot was founded by accomplished engineers Sri Deivasigamani and Siva Askasam in the Midwest’s heartland in Galesburg, Illinois. And they had a tunnel vision, to create solutions for a smart and efficient future. To do so, they assembled a team of engineers, machinists, and thinkers having similar interests. Altogether, they created a profitable company with workforce of 100 people. From there, it has been providing transformational technology that reforms the water-servicing industry. The company integrates (AI) with other cutting-edge technology to build devices that will revolutionize the HVAC industry with hot water-as-a-service and redefine how hot water is distributed and managed.
Intellihot has also developed Tellibot_AI, a forecasting tool that analyzes the condition of any water heater and shows whether it should be repaired or replaced. These benefits showcase its brilliance and make it preferable to firms such as Benihana, Concord Hospitality, and OTO. Also, national brands such as Hilton, La Quinta Inn, Best Western, The Capital Grille, Levi’s Stadium (home of the San Francisco 49ers) speak glowingly about their experience with Intellihot. Simply put, its high-tech solutions are ushering the larger community towards a cleaner, cheaper, safer, and more reliable future.
FROM AN ACCIDENT TO AN INNOVATIVE INTERVENTION
In 2009, Sri Deivasigamani went to India for a holiday. He returned home to Central Illinois after a 30-hour journey, expecting a warm bath and a restful night’s sleep. However, he heard unusual noises coming from his basement. He dashed downstairs to check and discovered the worst-case scenario for any homeowner: his basement was knee-deep in water from a broken water heater. While a normal person would have swept up the mess or called a repair service to keep the status quo, it was a watershed moment for Deivasigamani. Entrepreneurship and innovation were in his blood, and he spent his undergraduate years designing motorcycles and working in robotics.
His flair for engineering brought him to the USA, where he completed his master’s in Mechanical Engineering from Clemson University and even had a fruitful tenure with Caterpillar. During his stint, he climbed the corporate leader, becoming one of its lead engineers in its marine division. Back to the present. Looking at his water-logged basement, he realized that a large tank was sitting in his basement that needed to be heated 24/7. On a larger scale, not only was this flawed technology but perhaps a catastrophic one, too. It was grossly inefficient, with high operating costs, and potentially ruinous to any business if the system failed. He grew a disdain for the archaic infrastructure and began searching for more efficient ways to provide hot water.
Driven by a deep ambition, he began working on powerful ideas to reform this scenario for a bigger society from his garage. A motorbike enthusiast, he applied rigorous engineering and AI ideas to his efforts. He realized that he could not only fix it but also create a product that is more efficient, cost-effective, and utilizes less energy in any setting. Armed with engineering experience and passion for change, Deisvasigamani and his team laid the foundation of Intellihot. Their intelligent heaters have entirely upended the efficiency in several verticals on many grounds.
A NEW LANDMARK IN INNOVATION
Deisvasigamani’s smoldering passion, combined with his team’s efforts, has sparked a substantial change in the industry. Intellihot has replaced the hassles of expensive and gigantic tanks that often need to be installed via helicopter. It has also eradicated health hazards such as Legionnaires’ illness, which is caused by bacteria growing in old hot-water technology’s tanks. Intellihot closely monitors its models for its performance. This reduces clients’ tension, knowing Intellihot will inform them of any impending issue, leading to a breakdown. Its products come in an environment-friendly package that includes preventive maintenance without loss of service.
The company aims to mushroom into a green enterprise and improve clients’ outcomes. Its tankless models reduce 50% energy consumption, take 80% less space than traditional systems, and can improve efficiency by 70%, saving over 3.1 billion tons of CO2 at zero cost. Intellihot has the potential to cut global CO2 emissions from hot water and HVAC systems by 50% enabling its clients to meet their 2030 sustainability goals.
ADVANCING INNOVATIVE GREEN TECHNOLOGY
Intellihot announced on December 7, 2021, that it had raised $50 million from financial investors, Aegon Asset Management, and Avenue Capital Group. As per Deisvasigamani, they will use the growth fund to expand Intellihot’s sales, marketing, and operational capabilities, as well as R&D capabilities. This will help in scaling new technologies and increase production. Within this, Intellihot plans to add 50 new positions in the next two years. The 50% increase in headcount will be for its new base of operations in Chicago to be opened in 2022.
With new strides, the next few years will be significant for Intellihot. The firm will keep expanding into lodging, multi-family housing, senior living facilities, schools, universities, restaurants, and more. In doing so, it will focus on disrupting the ways hot water is delivered commercially, slashing greenhouse gas emissions, and in doing so, ushering in a more sustainable future.
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Business Talk is a digital business magazine that caters to CEOs, Entrepreneurs, VC, and Corporates. While working with entrepreneurs and business executives, we focus not only on their achievements. Our mission is to shed light on business entities, including their innovations, technological benchmarks, USPs, and milestones/accolades.
