Thermoelectric Cooling: Does anyone know how this works?

jasc15
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At my company, we have a design using thermoelectric cooling. I have no idea how they work, is there some phenomenon i don't know about?
 
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Thread 'Motional EMF in Faraday disc, co-rotating magnet axial mean flux'
So here is the motional EMF formula. Now I understand the standard Faraday paradox that an axis symmetric field source (like a speaker motor ring magnet) has a magnetic field that is frame invariant under rotation around axis of symmetry. The field is static whether you rotate the magnet or not. So far so good. What puzzles me is this , there is a term average magnetic flux or "azimuthal mean" , this term describes the average magnetic field through the area swept by the rotating Faraday...

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