Alltemp Inc., a refrigerant tech company in Westlake Village, announced on Thursday its newest product to provide energy savings to customers.

Called Alltemp 5, the product replaces Freon in refrigeration equipment and will have the lowest global warming potential of non-flammable refrigerants, according to the company. The new product is also expected to lower kilowatt hours by up to 40 percent; a kilowatt hour is equal to the amount of energy used in running a 1,000-watt appliance for one hour.

“This new product is a game-changer,” Bill Lopshire, chief executive for Alltemp, said in a statement. “Alltemp 5 opens the door to a massive and critical part of the refrigerant market, as it allows us to compete in the medium and low temperature racks, in supermarkets and big box stores, as well as walk-in coolers and freezers that are typical in restaurants, (quick service restaurants) and convenience store environments.”

Customers are expected to see a return on investment in a year based on energy savings, Alltemp said.