As of 20 July 2020, Phase 1 of the UK’s Industrial Energy Transformation Fund (IETF) is open for applications for grants, according to the Department for Business, Energy and Industrial Strategy (BEIS).
The IETF, announced in the UK’s 2018 autumn budget, is designed to assist the transition of high energy use businesses into a lower carbon future economy. £289 million of the IETF’s total £315 million fund is available to businesses in England, Wales and Northern Ireland, with the remaining £26 million allocated to Scotland for use in a separate programme (details of which are expected to be published later in 2020).
The £289 million allocated to England, Wales and Northern Ireland will be invested in two phases:
- Phase 1 (which, as noted above, opened on 20 July 2020) with up to £30 million of funding to be managed by Innovate UK, a public body established by the UK government to drive business innovation; and
- Phase 2 (which will launch in 2021) to allocate the remainder of the fund.
Phase 1 of the IETF is open to:
- organisations within the manufacturing Standard Industrial Classification (SIC) codes 10-33; and
- data centres.
Industrial businesses of any size can apply, either on their own or in collaboration with other organisations. The lead applicant must operate at an eligible site in England, Wales or Northern Ireland.
Applicants must be eligible to receive state aid under the applicable European Union state aid rules at the time it is confirmed they will receive funding from the IETF.
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