Foley Hoag LLP represented GMZ Energy as it closed its $14 million Series C round of financing.

GMZ, based in Waltham, Mass., specializes in direct heat-to-electricity conversion, applying an advanced nanotechnology process to produce high-performance and economically viable thermoelectric material. The company’s first product, expected to launch in 2012, will integrate its thermoelectric material directly into conventional solar hot water collectors, enabling the production of electricity in addition to heat and hot water.

GMZ also is exploring waste heat recovery applications for the automotive and industrial process markets.

The Foley Hoag team representing GMZ included Peter Rosenblum and Matthew Eckert. The new investment was led by Mitsui Ventures and includes I2BF Global Ventures, Energy Technology Ventures (a joint venture of GE, NRG Energy and ConocoPhillips), Kleiner Perkins Caufield & Byers, and BP Alternative Energy.

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