Industrial Energy Transformation Fund (IETF)
The Industrial Energy Transformation Fund (IETF) can provide vital funding to help your business become net zero. It launched in 2020 and provides grant funding to manufacturing organisations for energy efficiency projects that reduce fuel bills and carbon emissions.
Grants are available for businesses to undertake feasibility studies, engineering studies and energy efficiency projects and will cover at least 50% of the cost of these.
Under the scheme up to £500 million of funding has been made available up until 2028 in three phases:
- Phase one: This supported the deployment of energy efficiency projects as well as energy efficiency and decarbonisation studies. The two Phase one competitions ran between July 2020 and July 2021.
- Phase two: This phase expanded the IETF scope to additionally support the deployment of decarbonisation technologies. It will provide around £220 million in funding between Autumn 2021 and 2027.
- Phase three: This will support businesses with high energy use to cut their bills and emissions through increased energy efficiency and reduce their emissions by decarbonising industrial processes.
Phase Three of the scheme launched in January 2024 with £185 million available. Applications for phase three close on 19 April 2024. There will be a second competition window later in 2024.
How can Equans help?
Equans can help you identify suitable projects and submit a comprehensive application for funding, including accurate efficiency and carbon-saving forecasts. We can then use this funding to deliver full feasibility or design studies or implement decarbonisation projects within the required timescales, helping you maximise the delivery of successful projects.
Your IETF partner
If you are interested in applying for IETF funding you need to act fast. There can be a considerable amount of work required up-front to gather data, estimate costings and forecast financial and carbon savings.
For many organisations, expertise and resources are often at a premium, so specialist support and advice is vital to unlocking new decarbonisation and energy-efficiency opportunities.
At Equans our solutions are integrated and carefully targeted to ensure the delivery of successful projects to help you achieve your specific sustainability goals.
Get in touch to find out how Equans can help you access IETF grant funding and support your long-term decarbonisation targets.
