THE DEPARTMENT for Business, Energy and Industrial Strategy (BEIS), in collaboration with Innovate UK, has launched Phase 1 of the Industrial Energy Transformation Fund (IETF).
The Fund 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 UK Government announced £315 million of funding in the 2018 Autumn Budget, and the funding is available over to 2024.
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 investment in Scotland and will publish its plans for the funding.
The IETF is ‘a crucial part’ of the Government’s strategy for tackling climate change and reaching Net Zero by 2050.
It will complement other government programmes that offer innovation and early demonstration support, such as the Industrial Strategy Challenge Fund (ISCF) and the Energy Innovation Programme (EIP), and will help to transform an important part of the UK economy.
The IETF also provides vital support for businesses in key policy areas at a time when the country is tackling the COVID-19 crisis.
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 has been published today.
The Phase 1 competition will open on Monday 20 July and will run until Wednesday 28 October.
The competition closing date will be kept under review due to the COVID-19 situation.
BEIS has also today published the Government response to the recent IETF consultation, which ran from 10 October to 21 November 2019.
Online IETF Phase 1 briefing webinars are being held on 14th July 2020 and 20th July 2020.
Each webinar can accommodate up to 500 delegates and is designed to help businesses prepare applications, find out more about the types of projects they can apply for funding for, join up with other technology providers, and to be ready for the when the competition opens.
The briefing events will include an opportunity to:
- Hear about the scope of the competitions in more detail
- Network online and develop partnerships for the competition via breakout sessions
- Speak with BEIS and Innovate UK online for one to one discussions about the competition. These direct discussions can be booked via a booking system available to delegates during the event.
You can register for the webinars here.
