New Industrial Energy Transformation Fund opportunity launched to support businesses on the path to Net Zero
The Department for Business, Energy and Industrial Strategy (BEIS), in collaboration with Innovate UK and KTN, has launched the next opportunity to bid for funding from the Industrial Energy Transformation Fund (IETF).
The government announced £315m of funding in the 2018 Autumn Budget. The funding is available over the period to 2024. It 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. BEIS is managing the IETF with £289m to invest in England, Wales and Northern Ireland.
The Scottish Government is administering its share of the funding (£26m) contributing to a £34m budget for the Scottish Industrial Energy Transformation Fund (SIETF), which was launched in December 2020.
Businesses in England, Wales and Northern Ireland will now have a further opportunity to bid for up to £40m in grant funding through the IETF Phase 1: Spring 2021 competition window. The competition will open for applications on Monday 8 March and will run until Wednesday 14 July.
The competition will provide grant funding towards the costs of:
- Deployment of mature energy efficiency technologies that improve industrial process energy efficiency and reduce energy demand.
- Feasibility and engineering studies to prepare for projects deploying mature energy efficiency technologies or deep decarbonisation technologies.
The IETF is a crucial part of the government’s strategy for tackling climate change and reaching net zero by 2050. It complements other government programmes that offer innovation and early demonstration support, such as the Industrial Strategy Challenge Fund (ISCF) and the Energy Innovation Programme (EIP) and is helping to transform an important part of the UK economy. The IETF also provides vital support for businesses at a time when the country is tackling the Covid-19 crisis.
Details about the Spring window applicant guidance and competition can be found here.
Competition briefing webinar: recorded 11 March
BEIS and Innovate UK, in collaboration with KTN, hosted a briefing webinar to give delegates information on industrial net zero policy, the competition’s scope, eligibility criteria, details of the application process and support offered by Innovate UK and KTN. There will be the opportunity for delegates to deliver a virtual pitch on behalf of the company, the ability to network online and develop partnerships for the competition via breakout sessions and an opportunity to speak with BEIS and Innovate UK online for one-to-one discussions about the competition.
Innovate UK has also launched a customer support service. If you need more information about the application process, please email Innovate UK at firstname.lastname@example.org or call the competition helpline on 0300 321 4357 between 9-11:30am and 14:00-16:30pm, Monday to Friday.