IETF: £30m available for energy efficiency and decarbonisation studies
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.
BEIS Funding Allocations 2020-2021
BEIS 2020-21 Funding Allocations reveal a huge boost for UK research and innovation.
The Chancellor’s 2020 Budget included ambitious plans to increase public research and development (R&D) investment to £22 billion by 2024. This is the largest and fastest ever expansion of funding for research and innovation, taking direct support for R&D to 0.8% of GDP. It places the UK among the top quarter of OECD nations.
The Government remains committed to meeting this goal, despite the uncertainty caused by the Coronavirus pandemic. The Department for Business, Energy and Industrial Strategy (BEIS) is moving forward with its plans, confirming allocations of the R&D budget for 2020-2021. As a first step towards meeting this ambition, £10.36 billion of funding is being allocated to BEIS programmes and partner organisations this financial year.
The funding includes:
- investment in world-leading science and advanced mathematics
- investment in Net Zero technologies in the energy, automotive and aerospace sectors
- support to immediate efforts to respond to COVID-19, including sponsoring efforts to manufacture and trial a vaccine
- investment to secure and maintain the essential talent and infrastructure needed to deliver cutting-edge research.
In short, funding for public sector research establishments will enable the UK to be at the forefront of fusion energy technology. It will also deliver world-leading meteorological and climate science, develop cutting-edge quantum measurement techniques, and capitalise on the UK’s space capabilities. In a move aimed at creating stability during the pandemic, BEIS is providing further support to R&D intensive businesses and higher education institutions.
If you're interested in viewing the full list of R&D allocations for this financial year, click here. Alternatively, to discuss funding opportunities with one of our specialist advisers, please contact us today.
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