In January, the Department for Energy Security and Net Zero (DESNZ) opened applications for Phase 3 of its Industrial Energy Transformation Fund (IETF). Aiming to support the development and deployment of technologies that enable energy intensive businesses to transition towards a low carbon future, the programme has committed a total of £500m in grants for UK businesses, with £185m set to be spread across two windows in 2024 alone.
Companies have until Friday 19 April to apply for funding across three distinct areas: feasibility and engineering studies to investigate the viability of energy efficiency and decarbonisation projects; programmes to deploy technologies with the aim of reducing industrial energy consumption; and investment in technologies to achieve widespread emissions savings.
The competition, which is open to businesses of any size with an eligible site in England, Wales or Northern Ireland, will open two application windows in 2024 – the first in spring and the second in autumn. The spring window will prioritise sectors which fall into the following Standard Industrial Classification (SIC) 2007 codes: Mining and quarrying (07100-08990 and 09900); manufacturing (10000-33200); recovery and recycling of materials (383208); data centres (63110); industrial laundries (96010); and controlled environmental horticulture (1110, 1130, 1190, 1240, 1250, 1280, 1290, 1300, 1610).
You can access the application forms, here. Recipients will be announced later in the year, with remaining funding allocated during the autumn window. If you’re unsure about your business’ eligibility, there is detailed guidance available at GOV.UK.
Jodie Eaton, CEO of Shell Energy UK, said: “It’s positive to see this support for the hugely important areas of decarbonisation and energy efficiency. The IETF, alongside other funding avenues, will be another step in accelerating national progress towards net-zero.
“This is a significant opportunity for eligible major energy users to secure funding to support both their energy efficiency and decarbonisation efforts. With funding thresholds of up to £30m per project, it could help to further accelerate progress towards achieving net-zero ambitions.”
Once submitted, applications will undergo a comprehensive assessment led by DESNZ. Alongside overall project feasibility, grants will be awarded based on the potential contribution towards accelerating energy efficiencies, achieving long-term emissions reductions and delivering long-term business impact.
To find out more about how Shell Energy can help support your business with lower carbon energy solutions, visit www.uk.shellenergy.com. For more information about the Industrial Energy Transformation Fund, visit Industrial Energy Transformation Fund (IETF) Phase 3: Spring 2024 – GOV.UK (www.gov.uk)
