GMZ Energy

GMZ Energy's primary business involved manufacturing and selling these advanced thermoelectric materials and modules. The company targeted clients in markets where waste heat recovery offered substantial benefits, such as the automotive and industrial sectors. A significant part of their strategy involved establishing partnerships with large, multinational corporations to penetrate various markets. Their revenue model was based on the sale of their proprietary TEG modules, such as the TG8-1.0 and the more powerful TG16-1.0, to original equipment manufacturers (OEMs) and for research programs.

The company's core product was a thermoelectric generator, a solid-state device that could withstand high temperatures and convert thermal energy into electrical power. These modules were designed to be robust, reliable, and silent, with no moving parts. A key feature was their ability to operate at continuous hot-side temperatures of up to 600°C, delivering high power density. One of the company's major achievements was the successful demonstration of a 1,000W TEG for diesel engine exhaust heat recapture, developed as part of a $1.5 million program with the U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC). This technology aimed to improve vehicle fuel efficiency by reducing the load on the alternator.

Throughout its operation, GMZ Energy secured significant funding from notable investors, including Kleiner Perkins, BP Ventures, Mitsui Global Investment, and Energy Technology Ventures (a joint venture of General Electric, NRG Energy, and ConocoPhillips), raising a total of $22.4 million over several rounds. Despite its technological advancements and strategic partnerships, the company faced financial difficulties, leading to a bankruptcy filing in April 2015. In May 2015, the assets of GMZ Energy, including all patents, equipment, and product lines, were acquired by Evident Thermoelectrics.