Abstract: An insulated panel system includes a joint disposed between two insulated panels. The joint includes a gasket for increasing the efficiency of walk-in refrigerator and freezer spaces. A butyl-free gasket having a plurality of protrusions may be disposed between a first insulated panel, having a male portion, and a second insulated panel, having a female portion. A latch mechanism, disposed in part in the two insulated panels, operably engages to bring the male portion of the first insulated panel into a sealing engagement with the female portion of the second insulated panel, with the gasket disposed therebetween. The plurality of protrusions of the gasket are compressed between the male and female portions of the first and second panels, such that a plurality of sealing junctions are formed between the first and second panels.