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BEIS and Innovate UK launch Phase 1 of the Industrial Energy Transformation Fund (IETF)


BEIS and Innovate UK launch Phase 1 of the Industrial Energy Transformation Fund (IETF) cover image

The UK Government announced £315 million 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.

The Department for Business, Energy and Industrial Strategy (BEIS) will manage the Industrial Energy Transformation Fund, with £289 million to invest in England, Wales and Northern Ireland.

The Scottish Government will administer £26 million for Scottish investment and will publish its plans for this in due course.

The Phase 1 funding for England, Wales and Northern Ireland, which is worth up to £30 million, is available in the form of a grant scheme and will be available for:

  • Deployment of mature energy efficiency technologies that improve industrial process energy efficiency and reduce energy demand.
  • Feasibility and engineering studies for projects deploying mature energy efficiency technologies or deep decarbonisation technologies. These technical and economic assessments of potential projects reduce risks and provide more accurate cost estimates, enabling decision-makers to make informed investment choices.

The Phase 1 applicant guidance, published today, can be found here. The competition will open on Monday 20th July and close on Wednesday 28th October, however the latter date will be kept under review due to the ongoing Covid-19 pandemic.

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