In vintage condensing dryers its all about heat, and lots of it. The high wattage heater raises the temperature of the recirculating air inside the machine. This provides the energy to vaporize the water that is in the clothing. The moist recirculating air is then routed through an air-to-air heat exchanger. Since the room temperature is well below the dew point of the hot moist air in the closed system, the water vapor condenses for collection in the heat exchanger. The waste heat is rejected into the room air, much of which is recovered from the latent heat of evaporation of the condensed water. For efficiency sake its probably best not to run a condenser dryer in an air conditioned space in the Summer!
A refrigeration system could be used to lower the temperature of the condensing heat exchanger. This would allow the process to take place at a reduced temperature, although there still needs to be some heating to get the water to evaporate in the first place. I believe that the European heat-pump dryers use the waste heat from the refrigeration system to aid the evaporation. A cooler condensing surface will lower the dew point temperature of the closed system air aiding evaporation at the lower tempertures.
Of course of interest in this thread is that the theory of the steamy hot environment of a condenser dryer aids in fluffing the towels. A reduced temperature refrigerated condenser dryer may not have this effect, efficiency be dammed!