This one, an Aqua One about a year or two old, hadn't quite failed but definitely had water in it. The last 3-4 were full of water and one of the wires in the heating element corroded and broke.
So, I've replaced this one with an Eheim thermocontrol E300 and thought I'd take it apart.

And of course, my assistant trying to help...

The top pulls off easily, then the plug just pulls out without much effort. I suspect if I wanted to keep this working, drying it out and coating the rubber plug with silicone before reinserting it would seal it up nicely.
I don't know how easily that could be done to a brand new one.

Which of course my assistant tries to help with...

The temperature setting is just a screw putting some pressure on the bimetallic strip...

And the actual strip...

And of course, my assistant trying to help again...

So, I've replaced this one with an Eheim thermocontrol E300 and thought I'd take it apart.

And of course, my assistant trying to help...

The top pulls off easily, then the plug just pulls out without much effort. I suspect if I wanted to keep this working, drying it out and coating the rubber plug with silicone before reinserting it would seal it up nicely.
I don't know how easily that could be done to a brand new one.

Which of course my assistant tries to help with...

The temperature setting is just a screw putting some pressure on the bimetallic strip...

And the actual strip...

And of course, my assistant trying to help again...
