Good point Earnest. Let me bore you with my lengthy response.
The tankless water heater is not quite new. Actually it is pretty cool of how to make a household device that almost all houses have to work significantly better. It is kind of like Dysan that came up with a ball vacuum. Simple and obvious, but yet nobody spent time to improve it.
Similar to that, tankless water heaters have been around for sometimes. Two main categories of tankless water heater based on their heat source are gas tankless water heater and electric water heater. You are also right that heat exchanger is not a new concept, you could find heat exchanger on both tank or tankless water heaters. It has been around probably for several centuries. The tankless water heaters available in the market is pretty cool and high energy efficiency, the design has some common flaws like heat fluctuation, installation cost, etc. Microwave water heating by itself is also not new. We all know that microwave can heat water.
What Wanderport brings to the table is simply to innovate a solution to an obvious/common application--how to heat FLOWING water more efficiently. They in fact go to a next level to perfect the constraints that other cannot overcome on microwave water heating.
Microwave water heating can be relatively instantaneous as we are well aware. Wanderport MWH uses this concept to work hand in hand with an innovative configuration of heat exchanger, which allows better microwave energy absorption and efficiently recycles wasted heat back to the water stream. They also solve another longstanding problem of irregular wave of microwave from magnetron, resulting in higher efficiency of electricity conversion to microwave.
What you have is a smaller, lighter unit with lower material cost, since it does not need a giantic copper coil as the gas type or electric type. Wanderport claims approximately 30 percent energy saving comparing to existing tankless water heater you mentioned. In other word, It is a tankless water heater done right. For the first time that a tankless water heater can do what they are supposed to.
I hope this helps.
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