The Industrial Energy Transformation Fund (IETF) Phase 2 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
- Recovery and recycling of materials
- Data centre
When is the deadline?
Businesses must submit their application no later than Friday, 9 September 2022.
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!