On 22nd January, the Department for Energy Security and Net Zero (DESNZ) announced the imminent launch of the Industrial Energy Transformation Fund (IETF), Phase 3, Spring Competition, which opens to applications on Monday 29th January, closing on 19 April 2024.
There will be a second competition window later in 2024. Phase 3 will provide up to £185 million in funding between 2024 and 2028, for feasibility and engineering studies, and for the deployment of industrial energy efficiency and deep decarbonisation projects.
The ‘IETF’ is designed to help businesses with high energy use to cut their energy bills and carbon emissions through investing in energy efficiency and low carbon technologies.