Cleantech developer Smartcool launched its new product ECO3 globally today to help home and small business owners reduce their energy consumption. The small, wall-mounted units boost the effectiveness of air conditioning and refrigeration systems with one or two compressors. They do this by shrinking compressor run time.

The Vancouver, B.C.-based company says the product will substantially reduce energy demands and lower utility bills for users. The ECO3 has already been installed in many residences and commercial spaces across the country, including restaurants, grocery stores and hotels. Smartcool says that refrigeration and air conditioning represent a major area for cutting costs, since both represent expensive needs for families and small businesses. Its device can reduce energy consumption by up to 15 percent without changing a room’s temperature, the company claims.

Before developing the ECO3, Smartcool’s primary product was the Energy Saving Module (ESM), which also improves air conditioning and refrigeration efficiency. The difference is that the ESM can be retrofitted to existing systems. About 26,000 of them have been installed around the world in larger scale facilities like hospitals, food distribution warehouses and telecommunications companies.