The second application window for the Industrial Energy Transformation Fund (IETF) is now open. This scheme from the Department for Business, Energy and Industrial Strategy will invest £289m in total by 2025. £60m of this will be available in the spring 2022 phase.
The aim of the fund is to help businesses with high energy use cut their energy bills and carbon emissions through more efficient production processes. The IETF is part of the government’s national climate change strategy, to reach net zero carbon emissions by 2050.
Funding is allocated across three strands:
- Studies: feasibility and engineering studies to investigate potential projects
- Energy efficiency: deployment of projects aimed at reducing energy consumption
- Deep decarbonisation: deployment of projects to reduce emissions
Businesses can bid into any one or more of these strands, provided the proposal meets the eligibility criteria.
In conjunction with KTN, there is an online event on Thursday 10 March which will showcase some of the projects funded through the first round of the fund. These include heat recovery technology, carbon capture systems and hydrogen-fuelled processes. This will be a great opportunity to be inspired, get advice from successful IETF applicants and build partnerships to support your own application. An online networking platform has also been launched to help potential applicants find suitable partners.
The application window closes at 3pm on Friday 29 April. For more information and to apply, visit the IETF web page. For other resources to help your business become more environmentally friendly, visit our going greener page.