|A Galesburg based company that's looking to revolutionize the water heater industry has a new investor.
Energy Foundry out of Chicago has announced they're investing $500,000 in Intellihot.
This is the second company Energy Foundry has invested in since they started in February and CEO Jason Blumberg tells WGIL they believe they're making a smart investment with a solid company.
"They have a product that's really game changing in an industry that hasn't done much in 50 years," says Blumberg. "All the customers and people that we talk to had great things to say about it and wanted to use it and we think a lot of other people as they get to know the technology or need it, will want it."
Blumberg says they've sat down with Intellihot to talk about ways to expand.
He says his company has been able present Intellihot with the opportunity to meet with different hotel chains, as well as the Gas Technology Institute in Chicago.