The system could allow bars to cut their costs by almost £2,500 a year in energy and wasted.
It is one of a number of technologies which have won Government backing from a £500,000 fund for schemes which will improve the efficiency of food production and reduce the impact on the environment.
Other winners include a scheme to make it easier to buy local food online, a farm irrigation system to reduce water use and a project to extract chemicals from fish skin waste.
The drinks cooling system will use less energy than the current process, in which beer is chilled in the cellar, warms in pipes on its way to the bar and then is cooled again before serving.
The system being developed by bar equipment suppliers Brewfitt will chill drinks as they are needed, meaning better beer served at optimum temperatures and saving pubs an estimated £700 in energy costs a year and £1,700 of wasted drinks.
Food and Farming Minister Jim Paice said: “Britain’s at the forefront of innovation and at a time of soaring world population growth, harnessing this talent for the food and farming industry will create significant economic growth and improve the environment.
“I want to congratulate every award winner for their passion and ideas. I believe these projects could make a huge impact on the industry and, in time, the environment.”
Businesses are also being given the chance to apply for a share of £15 million to invest in projects which will increase the efficiency of, sustainability and competitiveness of food processing and manufacturing.