Found this on OpenVZ at Main Page - OpenVZ Wiki

OpenVZ is an open source container-based virtualization solution built on Linux. OpenVZ creates isolated, secure containers (otherwise known as VEs or VPSs) on a single physical server enabling better server utilization and ensuring that applications do not conflict. Each container performs and executes exactly like a stand-alone server; containers can be rebooted independently and have root access, users, IP addresses, memory, processes, files, applications, system libraries and configuration files.

The OpenVZ project is an open source community project supported by Parallels and is intended to provide access to the code and ultimately for the open source community to test, develop and further the OS virtualization effort. It is also a proving ground for new technology that may evolve into the Parallels Virtuozzo Containers product offering. We encourage the community to access, use, develop and comment on the software and references on this site.

Anyone here using this?