Since its launch in 2020, the Industrial Energy Transformation Fund (IETF) has provided vital grant funding to support innovative technologies and decarbonisation projects across England, Northern Ireland, and Wales. In the recent 2024 Autumn Budget, the Government confirmed a commitment of £163 million to ensure the continued delivery of all current projects within Phases 1 and 2, as well as the first competition window of Phase 3 through to their completion.
However, it is important to note that funding for the second competition window of Phase 3, announced by the previous Government, was not included in the Autumn Budget.
Discussions with ministers and the Treasury are ongoing regarding further opportunities for capital grant funding to help UK industries decarbonise and achieve Net Zero targets. We will share any updates as soon as additional announcements are made.
For any queries about the IETF, please contact the IETF team directly at IETF@energysecurity.gov.uk
