Thermoelectric refrigerating systems (TER) are environment-friendly technologies. They have several advantages such as low maintenance costs, are less cumbersome and long lifetime. However, these systems have low coefficient of performance and are limited in achieving low temperature levels. This study investigates a new configuration of TE refrigerator employing a novel arrangement of heat sinks with integrated flat and finned heat pipes. A mathematical model is firstly developed to predict transient temperatures and cooling limit time. An experimental characterization is then performed and it includes optimization of energy consumption, cooling time, temperature levels and TE refrigerator related COP. TE module coefficient of performance (COPTEC) is evaluated at 0.74 while the hot and cold sides temperature difference ΔT is equal to 32.7 °C. The coefficient of performance of the TE refrigerator (COPTER) is evaluated at 0.297 with an inside/outside temperature difference ΔTi/ o = 13 °C and an energy consumption rate of 42.7 Wh. Multiple experiment's results lead to a specific characterized chart adapted for this TE refrigerator. An empirical equation for transient temperature prediction is established and presents a novel contribution in this work.