In 2020, the UK government launched the new Industrial Energy Transformation Fund (IETF) to help businesses install energy and carbon reduction measures including heat pumps within their industrial processes. Delivered by Innovate UK on behalf of the Department of Business, Energy and Industrial Strategy (BEIS), this has pledged up to £315M in funding and is available in two phases.
Strand 1: Energy efficiency technologies
For technologies that improve the energy efficiency of industrial processes. These technologies will need to be demonstrably effective, either through testing or previous deployment, and the project must only be possible via this funding.
It could involve technologies such as more efficient heat exchange; resource process optimisation; or improved process control. Please note, most onsite electricity generation technologies are exempt from this funding.
Strand 2: Industrial energy efficiency and decarbonisation studies
This strand focuses on building future deployment project pipelines through financing feasibility and engineering studies, as well as reducing the costs or risks of either energy efficiency or decarbonisation technologies.
In both strands, the IETF is looking to fund a portfolio of projects in order to diversify funding.
Centrica Business Solutions can help you to take advantage of the IETF and see what carbon reduction measures, such as installing heat pumps are possible. Our experts have been supporting organisations for over 40 years with on-site energy insight, optimisation and generation services and solutions.
Pledged in Spring 2021 for IETF competition, split between two strands.
Heat Pumps enable the production of sustainably generated on-site heat; and projects can be delivered with the support of IETF funding.
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