25th August 2020
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).
BEIS will manage the IETF for England, Wales and Northern Ireland, with £289 million to invest over 2 phases. Phase one has recently opened with up to £30 million of funding available. Organisations are encouraged to apply for the funding hastily, as the deadline for applications is the 28th October 2020. Phase 2 of the IETF scheme will launch in 2021, with a remainder of the fund being available for distribution. Scotland is not part of the IETF, but there is a fund of £26 million available for similar Industrial Transformation.
The IETF has been earmarked as a crucial part of the Government’s strategy for tackling climate change and reaching Net Zero by 2050. The IETF is open to organisations within the manufacturing standard Industrial Classification (SIC) codes 10-33 and data centres.
Phase 1 is of the IETF is focused on the planning of energy and carbon reduction and Phase 2 focuses on the implementation. Phase 1 of the funding is available in the form of a grant scheme that will fund the following:
Industrial businesses of any size can apply, either on their own or in collaboration with external organisations. The lead applicant must operate a site situated within England, Wales, or Northern Ireland. If you are a manufacturer or data centre who have a project within scope head over to the IETF page situated on the Government website to find out more and on how to apply.
Inenco can offer support to manufacturers on a variety of in-scope projects related to Phase 1 of the IETF. If you have recently been awarded funding for phase 1 and are looking to implement one of the projects previously mentioned, we would be interested in speaking with you. If you are considering applying and would like to speak to a consultant regarding a feasibility study or a deep decarbonisation strategy, then please get in touch.
To speak to one of our manufacturing specialists call 08451 46 36 26 or visit our manufacturing page to find out more.