An analysis of energy efficiency for transcritical compression unit with CO2 (R744) as the refrigerant has been carried out using empirical operating characteristics for the two-phase ejector. The first stage of the refrigerant compression is carried out in the ejector. The criterion adopted for the estimation of energy efficiency for the cycle is the coefficient of performance COP. The analysis is performed for the heat pump and refrigeration systems. The results of COP for the systems with the ejector has been compared with the COPL values for the single stage Linde cycle.