A cascade CO2 refrigeration system includes a medium temperature loop for circulating a medium refrigerant and a low temperature loop for circulating a CO2 refrigerant. The medium temperature loop includes a heat exchanger having a first side and a second side. The first side evaporates the medium temperature refrigerant. The low temperature loop includes a discharge header for circulating the CO2 refrigerant through the second side of the heat exchanger to condense the CO2 refrigerant, a liquid-vapor separator collects liquid CO2 refrigerant and directs vapor CO2 refrigerant to the second side of the heat exchanger. A liquid CO2 supply header receives liquid CO2 refrigerant from the liquid-vapor separator. Medium temperature loads receive liquid CO2 refrigerant from the liquid supply header for use as a liquid coolant at a medium temperature. An expansion device expands liquid CO2 refrigerant from the liquid supply header into a low temperature liquid-vapor mixture for use by the low temperature loads.