All one needs to do to get an ice-cold drink is press a button at the base of the can, called ChillCan, which is also claimed as environmental friendly.
The can, expected to be available the end of this year, works by releasing pressurised carbon dioxide from a capsule attached at the bottom, chilling the can by 15 degrees centigrade, its inventors said.
"The new technology would be better for the environment than badly maintained drinks dispensers, said Professor Roland Clift, of the Centre for Environmental Strategy at University of Surrey, who helped develop the can.
"The strategy is to replace these dispensers and my role has been to develop this supply chain," Prof Clift was quoted as saying by the Daily Mail.
Prof Clift, a former advisor to UK's Department for Environment, Food and Rural Affairs, was brought in to help find an eco-friendly way to create the can without using harmful refrigerants.
He came up with a solution using carbon from coconut shells which is contained in an aluminium capsule inside the can which is activated -- sending a blast of pressurised carbon dioxide -- when you press the button.
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As the carbon dioxide evaporates the drink is cooled by a frosty 15C in under two minutes, making it perfect for taking on picnics, beach parties, festivals or barbecues.
The Joseph Company in California took 20 years to develop this new 500ml ChillCan as previous versions were deemed harmful to the environment because they contained a refrigerant, which contribute to greenhouse gas emissions.
Mitchell Joseph, the chief executive of Joseph Company said: "The potential take-up is huge -- what could be more convenient than a drink which cools down when you want it, rather than relying on polluting dispensers or having to carry an ice box to the beach or on a camping trip?"
"And it's all the better for its good environmental profile," Joseph added.
Drinks manufacturers are being lined up to use the cans which can be used for storing anything from fizzy pop to beer.