31st January –29th April 2022
Phase 2 for England, Wales and Northern Ireland opens on the 31st January 2022 and runs until 29th April 2022.
Phase 2 is worth up to £60 million in funding and will be available in the form of a grant scheme. The scheme will fund:
- Feasibility studies – must start no later than 1st May 2023 and finish no later than 1st May 2024;
- Engineering studies – must start no later than 1st May 2023 and finish no later than 31st March 2025;
- Energy Efficiency and Deep Decarbonisation Deployment Projects – must start no later than 1st May 2023 and finish no later than 31st March 2025.
What is the Industrial Energy Transformation Fund?
In 2020, the UK Government launched the Industrial Energy Transformation Fund (IETF) to support businesses to install energy and carbon reduction measures. It is a crucial part of the Government’s strategy for tackling climate change and reaching Net Zero by 2050.
The fund aims to support the transition of industrial processes to low carbon solutions to reduce:
- energy bills
- carbon emissions
- investment risk
What funding is available?
Now in its second phase, the fund offers £289m to support businesses with high energy use to transition to a low carbon future and to cut their through increased energy efficiency.
Successful proposals will be awarded grants which can cover 25% to 75% of costs depending on the type of project and business size.
- Energy efficiency deployment projects can apply for grants of £100,000 to £14 million
- Deep decarbonisation deployment projects can apply for grants of £100,000 to £30 million
- Engineering studies can apply for grants of £50,000 (total eligible cost) to £14 million
- Feasibility studies can apply for grants of £30,000 (total eligible cost) to £7 million
What are the benefits?
- Reduce energy bills, emissions, and the investment risk of energy efficiency and decarbonisation technologies
- Offset up to 50% of total investment value
- Fund projects which wouldn’t otherwise be feasible
- Reduce energy consumption amid a market of rising energy costs
- Accelerate your journey towards low and zero carbon operations
How can we support you with the IETF?
We work with clients to identify opportunities for implementation of the energy saving technology and support in the process of applying for grant funding.
Partnership with QiO Technologies, a provider of QiO foresight a data and AI-driven process control system technology, allows us to realise energy (and therefore carbon) savings across industrial assets by optimising their operation.
Anthesis provide project support across all stages of product development including data gathering, identification of opportunities, application for funding, agreeing the scope of works and the installation of the solution.
What is QiO Foresight?
QiO Technologies is an AI SaaS company delivering solutions for asset efficiency and sustainability for the global industrial sector.
Their core product, QiO Foresight Sustainability Suite is an industrial AI optimisation software.