Announcing the Industrial Energy Transformation Fund, Phase 3
The Department for Energy Security and Net Zero confirms plans to launch £185 million third phase of the Industrial Energy Transformation Fund.
Following the huge success of Phases 1 and 2 and strong feedback from stakeholders, the Department for Energy Security and Net Zero (DESNZ) has announced plans to launch Phase 3 of the Industrial Energy Transformation Fund (IETF).
The IETF Phase 3 will be worth £185 million in grant funding to UK businesses for energy efficiency and deep decarbonisation studies and deployment projects. The Department will hold a full consultation with UK industry later this year to finalise the design of Phase 3 of the fund before launching the first IETF Phase 3 competition window early next year.
We are currently in the process of finalising our plans and timelines for holding the IETF Phase 3 consultation and launching Phase 3 of the fund, which is subject to business case approvals. We will be engaging with stakeholders regularly over the coming months and further announcements will be made in due course.
If you have any questions regarding the IETF, please contact the enquiries team at IETF@beis.gov.uk.
Industrial Energy Transformation Fund Podcast Series
Innovate UK and The Department for Energy Security and Net Zero (DESNZ) are pleased to share this short podcast series with you. The discussion, led by Innovate UK KTN’s Jenni McDonnell MBE, will talk to different stakeholders including policy makers, industrial sites and delivery partners who are helping industrial sites to understand what they could achieve by taking advantage of this opportunity.