This is simply a matter of conservation of energy. Unless you are converting that 500W of electrical energy into another form such as chemical (splitting water into hydrogen and oxygen, for example) or graviational potential (lifting something), there is only one type of energy being utilized in the end process: mechanical kinetic energy. Mechanical kinetic energy is heat energy. So all of your energy will end up as heat.
Now, that isn't to say that your process really requires 500W. Perhaps your "agitator" requires 300W and a gearbox between the motor and agitator loses 200W (to heat). In that case, improving the gearbox would reduce the needed energy input by reducing the waste.
What are you agitating?