PRESS RELEASE
Chicago, Jan. 9, 2024 - Intellihot, a leading innovator in smart water heating systems, was recently named a winner of the 2023 Chicago Innovation Awards for its Electron series of commercial-grade tankless heat pump water heaters.
The winners were announced at an event held Nov. 16 at the University of Illinois at Chicago Forum.
In accepting the award, Intellihot Founder and CEO Sridhar Deivasigamani said, “Intellihot seeks to eradicate long-standing problems in the water heating industry such as staggering CO2 emissions and Legionnaire’s disease with an innovation-first approach so our consumers can take advantage of next-gen features like 24/7 factory monitoring and predictive diagnostics while knowing that these do not come at the cost of environmental degradation.”
“Nearly 350 organizations [were] nominated for this year’s awards,” said Luke Tanen, President and CEO of Chicago Innovation. “As a group, these nominees are responsible for generating over $3.8 billion in new revenues and creating over 10,000 jobs. The winners represent the best from this very impressive group.”
Intellihot’s award-winning product, the Electron Series, is the world’s first tankless heat pump water heater built for commercial and industrial applications. It absorbs heat from ambient air, stores that heat energy in a thermal battery, which in turn heats domestic water – all without a water storage tank. The compact units make the adoption of heat pumps straightforward for large properties like hotels, schools and restaurants, by offering guaranteed performance in any climate, saving 30% of space, and providing up to 1/3rd reduction in operating expense.
The Electron’s lack of stored water drastically cuts idle energy usage, reduces installation complexity and time, simplifies maintenance, and mitigates health risks like Legionella. By doing so, the Electron presents the most straightforward option for commercial properties to adopt heat pump water heating and comply with legislative regulations related to the country’s electrification efforts.
Led by Sri Deivasigamani, Intellihot products have previously received an Edison Award for Best New Product in 2022, and a Sustainability Award from Business Intelligence Group in 2023. Beyond the innovative products manufactured by Intellihot, the company utilizes technology to simplify processes, such as their on-line sizing tool which utilizes a database of nearly 2000 tankless water heater installations to provide a guaranteed sizing recommendation for commercial and industrial applications.
About the Chicago Innovation Awards:
Chicago Innovation Awards LLC operates a year-round series of activities aimed at celebrating innovators in the Chicago region. The Chicago Innovation Foundation is a 501c3 non-profit that provides educational events and programs to people interested in learning about innovation and entrepreneurship. Learn more at https://chicagoinnovation.com/
About Intellihot:
Intellihot is an innovative designer/manufacturer of built-environment systems that challenge traditional approaches for sustainability. Under the leadership of founder and CEO Sridhar (Sri) Deivasigamani, today Intellihot offers a range of tankless water heaters designed and built for commercial applications with a focus on sustainability, cost savings, and water quality safety. Winner of an Edison Award for Best New Product in 2022, Business Intelligence Group’s Sustainability Award in 2023, and Chicago Innovation Climate Champion Award 2023. Intellihot has operations in suburban Chicago, Galesburg, Ill. and distributors across North America. Learn more at www.intellihot.com or by following the company on X and LinkedIn.