Industrial Energy Transformation Fund launches next phase
There will be £185mln available for Phase 3 of the UK Government competition.
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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.