Industrial Energy Transformation Fund (IETF)
The Industrial Energy Transformation Fund (IETF) can provide vital funding to help your business become net zero.
The Department for Business, Energy and Industrial Strategy (BEIS) will deliver the Spring 2021 IETF in collaboration with Innovate UK who will manage the application process.
It launched in 2020 and provides grant funding to manufacturing organisations for energy efficiency projects that reduce fuel bills and carbon emissions.
Organisations can apply for a share of up to £40 million for grants to improve the energy efficiency of industrial processes, reducing energy bills and cutting carbon emissions.
The IETF will support businesses with high energy use to transition to a low carbon future, and to cut their bills and emissions through increased energy efficiency and decarbonisation.
Grants are available for businesses to undertake feasibility studies, engineering studies and energy efficiency projects and will cover at least 50% of the cost of these.
Under the scheme, up to £289 million in funding is available in two phases up to 2024:
- Phase one: For feasibility and engineering studies and for the deployment of industrial energy efficiency projects.
- Phase one Spring 2021: The second round of Phase one opened to applications on 8 March and runs until 14 July 2021. This phase will see up to £40million of funding available for projects that support energy efficiency and decarbonisation studies.
- Phase two: (launching 2021) will expand the scope of the fund to include deployment of decarbonisation technologies.
Applications closes on Wednesday 14 July 2021 11:00am.