α-MgAgSb is a promising thermoelectric material with an average figure of merit above unity between room temperature and 573 K, making it attractive for low temperature waste heat recovery or temperature regulation applications. We demonstrate here the first α-MgAgSb/Mg2(Si,Sn)-based thermoelectric module, where Mg2(Si,Sn) was chosen as n-type counterpart due to its excellent thermoelectric properties, low weight, abundant, and eco-friendly constituents. By using this new material combination, a maximum conversion efficiency of 6.4% and maximum power of 0.68 W were achieved for a temperature difference of 275 K, superior to commercially available (Bi,Te,Sb)-based thermoelectric modules. The Constant Property Model was used to check the validity of the measurement results and to identify room for further improvement. The characterization of the prototype shows a relatively good match between measurement and calculation for most of the thermoelectric module performance parameters; however, the measured internal electrical resistance is around 10% higher than the predicted values, indicating opportunities for further enhancement.