Initially the V-Tex is being unveiled as a way of reducing the need for rows of fridges in supermarkets, the Daily Star reported.
However the creators Enviro-Cool are working on affordable prototypes that could be used in the home.
Company founder Kelvin Hall said the team working on it have already experienced the benefits.
Although the V-Tex is primarily being developed with drinks in mind, the new technology has other applications.
Two models are in the pipeline; a high end version, complete with built in speakers, capable of chilling two drinks at the same time, and a cheaper version that will chill one drink and is about the size of a blender.
The V-Tex compact will retail for around 800 pounds and the V-Tex domestic will cost around 250 pounds.