In January, the Division for Vitality Safety and Web Zero (DESNZ) opened functions for Section 3 of its Industrial Vitality 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 goal of decreasing industrial vitality consumption; and funding in applied sciences to attain 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 software 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’ll be able to entry the applying kinds, right here. Recipients shall be introduced later within the 12 months, with remaining funding allotted throughout the autumn window. If you happen to’re not sure about your enterprise’ eligibility, there’s detailed steerage accessible at GOV.UK.
Jodie Eaton, CEO of Shell Vitality 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, shall be one other step in accelerating nationwide progress in direction of net-zero.
“It is a important 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 venture, it might assist to additional speed up progress in direction of attaining net-zero ambitions.”
As soon as submitted, functions will bear a complete evaluation led by DESNZ. Alongside general venture feasibility, grants shall be awarded primarily based on the potential contribution in direction of accelerating vitality efficiencies, attaining long-term emissions reductions and delivering long-term enterprise impression.
To search out out extra about how Shell Vitality might help assist your enterprise with decrease carbon vitality options, go to www.uk.shellenergy.com. For extra details about the Industrial Vitality Transformation Fund, go to Industrial Vitality Transformation Fund (IETF) Section 3: Spring 2024 – GOV.UK (www.gov.uk)
