Industrial Energy Transformation Fund (IETF) Phase 2 Competition Now Open

The Industrial Energy Transformation Fund (IETF) Phase 2 Autumn Competition is now open and offers £70 million in grant funding for businesses investing in environmental sustainability!

Who can apply?

Businesses of any size in England, Wales, and Northern Ireland are eligible to enter this £70 million competition. Applicants must submit projects for industrial operating sites in the following sectors:

• Mining and quarrying
• Manufacturing
• Recovery and recycling of materials
• Data centre

When is the deadline?

Businesses must submit their application no later than 3pm on Friday, 13 January 2023.

What will it fund?

The IETF supports industrial sites with high energy use to transition to a low carbon future. Successful applicants of the competition will be supported with grant funding towards the following costs:

• Feasibility and engineering studies or potential deployment projects that will deliver energy efficiency or decarbonisation benefits if implemented, enabling decision-makers to make informed investment choices. Grants of 50%-70%, up to £7 million per feasibility study and 25%-60%, up to £14 million per engineering study per project may be awarded. Percentages vary depending on size of the business.
• Deployment of mature energy efficiency - technologies that improve industrial energy efficiency and reduce energy demand (TRL 8-9). Grants of 30%-65%, up to £14 million per project may be awarded. Percentages vary by location of the project and size of the business.
• Deployment of deep decarbonisation - technologies that reduce carbon emissions associated with the industrial process (TRL 7-9). Grants 40%-85%, of up to £30 million per project may be awarded. Percentages vary by location of the project and size of the business

If you'd like to learn more about this £70 million funding competition or would like us to assist you in applying for this fund, please feel free to reach out to our Global Incentives team!