Intellihot, which makes and sells tankless water heaters. received $400,000 from the Illinois Clean Energy Fund.
Founder and CEO Sridhar Deivasaganami said the award goes to companies that help reduce energy consumption.
“We would need devices and items that significantly lower energy consumption and also provide a high degree of comfort. We have only so much resources that we can go and use it to create comfort,” Deivasaganami said.
“Our demand for our product is growing. Our distribution is growing. And so have the employees of Intellihot. We are continuing to grow and, in fact, hiring to meet our increased production and sales demands.”
The company was founded in 2011, and is located in Galesburg’s Sustainable Business Center. Deivasaganami said the company plans on staying there for the foreseeable future.
He said the company plans to release more products that could be sold to hospitals and nursing homes in the United States and Canada.
The company has already sold products to hospitals, a VA clinic in Philadelphia, and Levi’s Stadium in San Francisco.