The Industrial Energy Transformation Fund (IETF) is a crucial part of the Government’s strategy for tackling climate change and reaching Net Zero by 2050. It aims to help businesses with high energy use to cut their energy bills and carbon emissions through investing in energy efficiency and low-carbon technologies.
The UK Government announced £315 million of funding in the 2018 Budget, available up until 2024. BEIS will manage the IETF for England, Wales and Northern Ireland, with £289 million to invest over 2 phases. Phase 1 is now open for applications, with up to £30 million available for feasibility, engineering studies and deployment across two strands.
Strand 1: IETF deployment of energy efficiency technologies in industry
In this strand, projects must undertake a feasibility or an engineering study (experimental development) to develop either an energy efficiency or a deep decarbonisation project that enables possible subsequent deployment.
This strand of the competition aims to:
- help industrial companies build a pipeline of future deployment projects by supporting feasibility and engineering studies (experimental development)
- reduce the costs and risks of either industrial energy efficiency or decarbonisation technologies
Strand 2: IETF industrial energy efficiency and decarbonisation studies
In Strand 2, projects must deploy technologies to improve the energy efficiency of industrial processes. Your project must only be possible because of this funding.
Example technologies include:
- improved process control
- more efficient heat exchange
- more efficient drying
- energy recovery from waste heat
- energy recovery from waste pressure
- resource process optimisation
This competition closes on the 28th October. If you are interested in applying, please contact us today to arrange a free consultation.
