The Industrial Energy Transformation Fund (IETF) is a scheme launched by the UK government in 2020 to help businesses install energy and carbon reduction measures within their industrial processes, with the aim of increasing energy efficiency.
The scheme which is administered by Innovate UK on behalf of the Department of Business, Energy and Industrial Strategy (BEIS) has pledged up to £315M in funding which is available up until 2025.
Phase 1 of the scheme took place in Spring 2021 and was focussing on technologies that improve the energy efficiency of industrial processes. Phase 2 expands the IETF scope to additionally support the deployment of decarbonisation technologies. It will provide around £220 million in funding between Autumn 2021 and 2025.
The IETF scheme is open to business of any size registered and operating in England, Wales or Northern Ireland, there is also an equivalent scheme for Scotland. The proportion of the eligible cost businesses can receive depends on the project, size of the business and geographical location and varies between 30% – 85%.
IETF Phase 2: Autumn 2022 provides approximately £70 million of grant funding for the following project types:
• Studies – feasibility and engineering studies to enable companies to investigate identified energy efficiency and decarbonisation projects prior to making an investment decision
• Energy Efficiency – deployment of technologies to reduce industrial energy consumption
• Deep Decarbonisation – deployment of technologies to achieve industrial emissions savings
This is the last currently planned application window, so if you have a project you think may be eligible, please get in touch and we can help you through the application process.
Use the contact form below or give us a call on 0141 226 8525 and we’ll take it from there.