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IETF Phase 3: Spring 2024

Fund Name

IETF Phase 3: Spring 2024

Project Value

£7m - £30m

Deadline

19.04.2024

The Industrial Energy Transformation Fund (IETF) Phase 3 budget is £185 million overall. This will be allocated across two competition windows in 2024; this window and a second anticipated to open in June or July.

The fund supports industrial sites with high-energy use to transition to a low-carbon future. The fund targets existing industrial processes.

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Fund details

IETF Phase 3: Spring 2024 will allocate grant funding for the following project types:

  • studies – feasibility and engineering studies to enable companies to investigate identified energy efficiency and decarbonisation projects before making an investment decision
  • energy efficiency – deployment of technologies to reduce industrial energy consumption
  • decarbonisation – deployment of technologies to achieve industrial emissions savings

Eligibility

Minimum/maximum thresholds

Energy efficiency deployment projects:

  • Minimum: £75,000 (SMEs); £100,000 (large companies)
  • Maximum: £14 million

Deep decarbonisation deployment projects:

  • Minimum: £75,000 (SMEs); £100,000 (large companies)
  • Maximum: £30 million

Engineering studies:

  • Minimum: £50,000 (total eligible cost)
  • Maximum: £14 million

Feasibility studies:

  • Minimum: £30,000 (total eligible cost)
  • Maximum: £7 million

To lead an application:

  • Organisations must be a registered business in England, Wales, Northern Ireland or Scotland
  • Must have an existing site with eligible industrial process
  • Specific SIC codes required
  • Evidence (gas/energy bills) required
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