Industrial Energy Transformation Fund launches next phase

Phase 3 of the Industrial Energy Transformation Fund (IETF) was launched yesterday by the Department for Energy Security and Net Zero.

Businesses in England, Wales and Northern Ireland can now bid for grant funding in the Spring 2024 window.

The competition window will be open from Monday 29 January 2024 until Friday 19 April 2024. Grants are available for:

Studies - feasibility and engineering studies prior to investment
Energy efficiency projects - technologies to reduce industrial energy consumption
Deep Decarbonisation projects - technologies to save industrial emissions

Changes from previous rounds include:

Controlled Environment Horticulture activities, industrial laundries and textile renting facilities can all apply.
Coal mining is no longer eligible.
Scotland-registered companies with industrial sites elsewhere in the UK can apply.
The minimum grant for SMEs has been lowered to £75k from £100k.
Applications requesting more than £5mln must submit a study.

To find out more, read the IETF Phase 3 webpage.

Staff Writer