Old-style Hyperion's SMGs have higher damage output at the cost of significantly lower accuracy and fire rate than their modern analogs. They also have a limited version of Hyperion's "reverse recoil" when aimed down the sights only.
The Fridge is part of a sub-group of SMGs that only can spawn with a fixed-element Maliwan barrel. They feature the higher-than-usual elemental damage/second and element chance granted by the Maliwan barrel what can make them excellent choices for combat until a more suitable or more accurate weapon is obtained. These parameters achieve even higher values, if SMG is equipped with a Maliwan grip.
Other SMGs in this grouping manufactured by the "old" Hyperion include the Ascerbic (corrosive), Boiler (incendiary), and Brainstorm (shock).
The Fridge only comes in green or higher rarity.
In addition to the Fridge, a variant of this weapon exists as the Cooler, made by the "new" Hyperion.
The Fridge is obtained randomly from any suitable loot source.