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Insight

Kickstart major industrial decarbonisation projects with grant funding from IETF

Valuable funding opportunity

Funding for decarbonisation in the industrial sector is in short supply, so this is a great opportunity for industrial sites with high energy use to kickstart large-scale, long-term carbon-reduction programmes that require significant investment. The UK government has set a target for all businesses to reach net zero carbon by 2050, and many trade associations and industry bodies have set even more challenging deadlines. There’s no time to lose in getting carbon-reduction projects off the ground, and the IETF presents a valuable opportunity to access the funding required for essential planning, implementation and delivery. 

Support for decarbonisation ingenuity

IETF is specifically intended to support the delivery of innovative technology projects, not like-for-like asset replacement. The aim is to encourage outside-the-box thinking and the implementation of larger, non-standard projects in the sector, which might otherwise not be financially feasible. 

Applications are welcomed from manufacturing businesses, mining and quarrying operations, material recovery and recycling companies, and data centres.

In phase 1 of the scheme (spring 2021), grants were awarded to a diverse range of projects, including exhaust kiln heat conversion studies, sugar refinery decarbonisation, glass furnace efficiency improvements, electric induction furnace efficiency studies, advanced waste heat recovery from a paper mill and the application of cryogenic carbon capture.

Improving commercial viability

In the industrial sector, decarbonising heat is more complex than decarbonising electricity, so many businesses are keen to secure funding for investments in biomass boilers, hydrogen, heat pumps, carbon capture, waste heat recovery and similar assets. 

Many decarbonisation investments have a long payback period, which makes IETF funding especially important for the viability of these schemes. Grants make heat decarbonisation more commercially feasible by providing up-front investment and thereby significantly reducing the payback period. 
 

Access vital expertise and resources

Businesses interested in applying for IETF funding 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. In lean industrial organisations, expertise and resources are often at a premium, so specialist support and advice could be vital if businesses are to unlock new decarbonisation and energy-efficiency opportunities.

EQUANS has the experience, expertise and resources to help businesses identify suitable projects and submit a comprehensive application for funding, including accurate efficiency and carbon-saving forecasts. If the application is successful, EQUANS can follow up by delivering full feasibility or design studies or implementing decarbonisation projects within the required timescales. 

Support for sustained carbon reduction

At a time when many businesses have been focusing on short-term quick wins to kickstart their journey towards net zero carbon, ITEF funding offers the chance to initiate large-scale projects that will deliver long-term results. To find out how EQUANS can help you access IETF grant funding and support long-term decarbonisation, please contact Vanessa Vooght  .

 

 

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Net Zero Service Industrial Energy Transformation Fund (IETF) The Industrial Energy Transformation Fund (IETF) can provide vital funding to help your business become net zero.