Using the most innovative technology you’ve never heard of, Amerigon Inc. (Nasdaq: ARGN) has created what well may become a billion dollar business within the space a generation.

Amerigon is the leading manufacturer of electronically heated and cooled seats, sold under the brand “Climate Control Seats” (CCS). CCS is the only system on the market that allows drivers and passengers to actively heat or cool their seats individually at any time of the year.

Amerigon’s core technology is based on the “thermoelectric effect,” which was first identified by two European scientists (Peltier and Seebeck) working independently in the 19th century. Essentially, the thermoelectric effect generates an electrical field from differences in temperature of non-conductive, solid materials. In reverse, the thermoelectric effect uses electricity to generate heat or cold.

The company’s offering is built around its highly efficient, solid-state (thermoelectric device or TED) and is completely independent of the automobile's heating and air conditioning system. What’s more, it does not reduce power available to the engine and emits no CFCs or other gases.

The company began sales to the automotive market in 1999 and now supplies the world’s leading manufacturers, including Ford, Land Rover and Jaguar, GM, Toyota, Hyundai, Nissan and Infiniti. More than 3.2 million units were sold through October 2007.

The company’s research arm, BSST, a wholly owned subsidiary, works to adapt (and license) its technology to novel applications, in a variety of industries, including aerospace, naval and battlefield defense, telecommunications, computers and biomedical. BSST is also actively pursuing the development of power generation applications from waste heat, such as exhaust.