From the NanoFreeze.com website, the Lund, Sweden based company founded in 2005 "develops a thermoelectric coolchip having a high efficiency, 10-15 times higher than so called Peltier-elements working on the same basic principle." Their website assures us they are using nanotechnology, that they have raised some 7.4 MSEK (US$1.15) venture capital and plan to have their first product in 2010.
Honestly, I didn’t think you could get 10-15 tiems better than Peltier devices. That seems like Carnot efficiency, or even better. But then, I don’t have any startup funding.