In January, the Division for Power Safety and Internet Zero (DESNZ) opened functions for Part 3 of its Industrial Power Transformation Fund (IETF). Aiming to assist the event and deployment of applied sciences that allow vitality intensive companies to transition in direction of a low carbon future, the programme has dedicated a complete of £500m in grants for UK companies, with £185m set to be unfold throughout two home windows in 2024 alone.
Corporations have till Friday 19 April to use for funding throughout three distinct areas: feasibility and engineering research to analyze the viability of vitality effectivity and decarbonisation initiatives; programmes to deploy applied sciences with the intention of lowering industrial vitality consumption; and funding in applied sciences to realize widespread emissions financial savings.
The competitors, which is open to companies of any dimension with an eligible web site in England, Wales or Northern Eire, will open two utility home windows in 2024 – the primary in spring and the second in autumn. The spring window will prioritise sectors which fall into the next Customary Industrial Classification (SIC) 2007 codes: Mining and quarrying (07100-08990 and 09900); manufacturing (10000-33200); restoration and recycling of supplies (383208); knowledge centres (63110); industrial laundries (96010); and managed environmental horticulture (1110, 1130, 1190, 1240, 1250, 1280, 1290, 1300, 1610).
You possibly can entry the appliance kinds, right here. Recipients might be introduced later within the 12 months, with remaining funding allotted through the autumn window. For those who’re not sure about your online business’ eligibility, there may be detailed steering out there at GOV.UK.
Jodie Eaton, CEO of Shell Power UK, stated: “It’s optimistic to see this assist for the vastly essential areas of decarbonisation and vitality effectivity. The IETF, alongside different funding avenues, might be one other step in accelerating nationwide progress in direction of net-zero.
“It is a vital alternative for eligible main vitality customers to safe funding to assist each their vitality effectivity and decarbonisation efforts. With funding thresholds of as much as £30m per mission, it might assist to additional speed up progress in direction of reaching net-zero ambitions.”
As soon as submitted, functions will endure a complete evaluation led by DESNZ. Alongside general mission feasibility, grants might be awarded based mostly on the potential contribution in direction of accelerating vitality efficiencies, reaching long-term emissions reductions and delivering long-term enterprise influence.
To search out out extra about how Shell Power may also help assist your online business with decrease carbon vitality options, go to www.uk.shellenergy.com. For extra details about the Industrial Power Transformation Fund, go to Industrial Power Transformation Fund (IETF) Part 3: Spring 2024 – GOV.UK (www.gov.uk)
