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on 8/6/15I honestly don't know. It is used on garage doors and water heaters, I would try it.
We have used it on hot water heaters, it should work on a small fridge.
Richard, this is only R16, and is a radiant insulation. It is tough enough to work with, but I would think you aren't dealing with radiant heat here, so try the foam sheets builders use between basement walls and the dirt fill, or the sheets for inside the basement walls. 34 Cu ft of insulation, when its only 1/4 in thick is a lot!