Due to the first and second law of thermodynamics: No.
The Carnot cylce is more efficient for a high temperature gradient of cold and hot reservoir. The efficiency of the Carnot cyle
$\eta = 1 - \frac{T_{cold}}{T_{hot}}$ is the upper limit of efficiency.
E.g.: $T_{cold} = 600\,K$ and $T_{cold} = 300\,K$ yields a high efficency of 0.5. New 2008 Otto Motor techniques (Split cyle engine, german wiki) yield $\eta\approx 0.4$.
The most efficient process would be to increase the hot Temperature und insolate versus the cold reservoir. Cooling $T_{cold}$ to near absolute zero Kelvin is harder and therefore not the way to engineer.
Remark: laws of thermodynamics
First law of thermodynamics: The increase in internal energy of a closed system is equal to the difference of the heat supplied to the system and the work done by it. Using it's mathematic form $dU = \delta Q + \delta W$ allows derivation of carnot efficiency $\eta$.
Second law links the loss of $Q$ to the increased entropy $S$ of the environment.
These laws both underline the carnot efficiency as a limit.