Ecosummit TV brings to you Peter Stein, Co-Founder and Head of Sales and Finance of GreenTEG, pitching the Zurich-based thermoelectric generator startup to investors at ECO11 in Berlin. The amount of lost waste energy, especially as heat, mankind loses during power generation and industrial production is huge. GreenTEG has developed cost-efficient technology that turns waste heat into energy using thermoelectric generators. The reverse process with thermoelectric coolers turning electricity into cooling is possible, too.

Thermoelectric generators are a hot business with huge market potential. GreenTEG’s US-based competitor is called Phononic Devices and recently closed a $10M Series B round. In Germany, there is O-Flexx backed by a huge lineup of Cleantech VCs including Emerald Technology Ventures, Aster Capital and SET Venture Partners.

GreenTEG’s team and technology comes from the famous ETH Zurich. The startup has 11 employees and plans its market launch in 2012. Now GreenTEG looks for a €3M Series A round to accelerate R&D, production and marketing. So interested Cleantech VCs without a stake in the market should take a very close look at GreenTEG. You can start by watching Peter on Ecosummit TV.

Tags: Aster Capital, Cleantech, Cleantech Startup, ECO11, Ecosummit 2011, Ecosummit TV, Emerald Technology Ventures, ETH Zurich, GreenTEG, O-Flexx, Peter Stein, Phononic Devices, SET Venture Partners, Smart Green Economy, startup, Switzerland, Thermoelectric Generator, Waste Energy, Waste Heat to Energy, Zurich