A solar hot water collector that makes electricity, too

The company today announced it raised $14 million in series C funding to commercialize a product that will draw electricity from solar hot water collectors. It will also make small chips able to convert heat from car exhaust pipes and industrial machines into electricity.

GMZ Energy, which was spun out of the Massachusetts Institute of Technology and Boston College in 2008, has created an improved material for converting the energy in heat into electric power. The process works in reverse so an electric current will produce heat.

Thermoelectric materials have been used for years in a few applications, such as heated seats in cars and portable coolers. Now a number of companies are trying to make them less expensive and more efficient at the heat-to-electric power conversion.

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