Brisbane is now home to Australia's coldest fridge, worth a cool half a million, but warm beers are the last thing you would want to put in it.

The cooling appliance is being housed at the University of Queensland and is hoped to help improve navigation capabilities for submarines, planes and ships within the next 10 years.

From left: Professor Warwick Bowen and members of the UQ Superfluid Team with the new fridge. Credit:University of Queensland

The Dilution Refrigerator can almost reach absolute zero (-273.15 degrees) and uses liquid helium, which runs on a closed-cycle system.

ARC Centre of Excellence for Engineered Quantum Systems professor Warwick Bowen said the $500,000 fridge would further the study in superfluids, a unique quantum phenomenon where matter behaves like a wave and when stirred flows perpetually.