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Phase 1 of Industrial Energy Transformation Fund launched to support businesses on path to Net Zero

Phase 1 of Industrial Energy Transformation Fund launched to support businesses on path to Net Zero

The Department for Business, Energy and Industrial Strategy (BEIS), in collaboration with Innovate UK, has today launched Phase 1 of the Industrial Energy Transformation Fund (IETF).

The UK Government announced £315 million of funding in the 2018 Autumn Budget. The funding is available over the period 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 in due course.

The IETF is a funding programme that 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 and decarbonisation. 

The fund 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.  

Details about the Phase 1 applicant guidance and competition can be found here.

IETF Phase 1 online stakeholder events

The Phase 1 competition will open on 20 July 2020.  BEIS and Innovate UK, in collaboration with the Knowledge Transfer Network (KTN), are running two briefing webinars on 14 July 2020 and 20 July 2020. Each event 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 when the competition opens.

The webinars will include information from BEIS on industrial net zero policy, the competition’s scope, eligibility criteria, details of the application process and support offered by Innovate UK and KTN.  There will be the opportunity for delegates to deliver a virtual pitch on behalf of the company, the ability to network online and develop partnerships for the competition via breakout sessions, and an opportunity to 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.

The webinars will benefit a number of organisations and professionals including:

  • Manufacturing companies

  • Data centres

  • Energy efficiency and decarbonisation innovators and professionals

To register for an online webinar, click on the links below:

14 July

20 July

Innovate UK has also launched a customer support service. If you need more information about the application process, please email Innovate UK at support@innovateuk.ukri.org or call the competition helpline on 0300 321 4357 between 9am and 5:30pm, Monday to Friday.  

Article by Suffolk Chamber