CO2 for closed cycle compression refrigeration has great thermal properties and is particularly applicable at temperatures from -25 F. to maybe -65 Deg. F. Below that temperature, the triple point is encountered. In large central systems, it has been applied as the low temperature end of a cascade system, often with R-717 as the high temperature side of a 2-temperature plant. There have probably been 40 such systems constructed in the last 5-years.
CO2 at higher evaporating temps involves some pretty high pressures; (45 deg. F. and Satn is around 600 Psia) and direct to ambient condensing results in a transcritical system: rejected heat is all sensible heat, none of the advantages of Phase Change available. This last condition leads to low COP's on systems condensing over 88 deg.F.; and the equipment for 88 deg. F. would have to withstand about 1300 Psig to achieve "normal" conformity to codes, etc.
Sanyo has designed a suitable compound compression circuit for lower capacities and transcriticalapplications; it inherently supports a gas displacement overcirculation arrangement. Other players include Linde, Nestle, and Star Refrigeration in the UK.
By comparison with R-717, major driving forces for design with CO2 include: Smaller Vessels, compressors and piping; easier tranportation for oil and liquid in an overfeed arrangement; and lack of toxicity should a leak or discharge develop. There is an inclination with "compact" CO2 circuits to simply leave out a number of the valves that would nominally be on an industrial system, simply because the easiest way to manage charge during servicing is to dump it and renew it.