Closure of the UK's Industrial Energy Transformation Fund
The UK Government has confirmed the Industrial Energy Transformation Fund (IETF) will not continue.
The planned second competition window of IETF Phase 3 will also not go ahead.
The IETF supported the development and deployment of technologies that enable businesses with high energy use to transition to a low-carbon future.
The government confirms the continued delivery for all current projects in Phases 1, 2 and first Phase 3 competition window to completion, as per the £163mln it committed in the Autumn 2024 Budget.
It highlights its continued support for electrification and funding for the development of carbon capture and storage and hydrogen infrastructure. Further details on industrial decarbonisation, including fuel switching to electrification, will be outlined in its Carbon Budget and Growth Delivery Plan in October.
The government has provided links that may be of support.
- Writing Down Allowances – capital allowance that allows you to deduct a percentage of the value of certain items from your profits each year
- Government Grants Service
- Government Financial Support - List of Finance and support for your business
- Konfer platform for funding and partnership opportunities
- Government has also recently published 13 study reports on Local Industrial Decarbonisation Plans for local clusters. The plans have helped identify decarbonisation projects, including shared infrastructure necessary to help them on their net-zero journey, as useful reference sources
