We know how investing in heat pump, CHP or other renewable technology on a commercial scale can be a significant financial outlay.
That’s why we aim to help you to find support for your project. Whether it is funding from the government or other sources, or financing options, we can guide you through the process.
Funding that is available changes regularly but some current funding options that could be available to your business are:
The Industrial Energy Transformation Fund (IETF)
The fund is designed to help businesses with high energy use to cut their energy bills and carbon emissions through investing in energy efficiency and low carbon technologies. The government announced £315 million of funding in the 2018 Budget, available up until 2025.
BEIS manages the IETF for England, Wales and Northern Ireland, with £289 million to invest over consecutive application windows split into 2 phases.
We are currently in phase 2 with 3 further Phase 2 competition rounds in 2022. The next runs between 31 January and 29 April.
Phase 2 expands the IETF scope to additionally support the deployment of decarbonisation technologies. It will provide around £220 million in funding between Autumn 2021 and 2025.
Phase 2 of the IETF provides grant funding for feasibility and engineering studies, and for the deployment of industrial energy efficiency and deep decarbonisation projects.
The current round of funding (spring 2022) is open to eligible SIC codes including industrial processes: mining and quarrying (SIC 05101 to 05200,07100 to 08990 and 09900), manufacturing (SIC 10000 to 33200), recovery and recycling of materials (SIC 38320) and data centres (SIC 63110).
Companies are invited to bid into any one or more strands: Studies, Energy Efficiency and Deep Decarbonisation. If the site is based in Scotland, you can apply for the SIETF.
Industrial Energy Transformation Fund (IETF) Phase 2: Spring 2022 – how to apply – GOV.UK (www.gov.uk)
Heat Networks Investment Projects (HNIPs)
This is a government funding programme that aims to:
- increase the number of heat networks being built
- deliver carbon savings
- help create the conditions necessary for a sustainable heat network market to develop
HNIP will provide £320 million of capital funding to gap fund heat network projects in England and Wales.
Heat Networks Investment Project (HNIP): overview and how to apply – GOV.UK (www.gov.uk)
The scheme is open to the public, private and third sectors.
Made Smarter Innovation
(For manufacturing companies investing between £1 million and £8 million)
Competition overview – Made Smarter Innovation: Sustainable Smart Factory – Innovation Funding Service (apply-for-innovation-funding.service.gov.uk)
Salix Energy Efficiency Fund (SEEF)
Energy Efficiency funding for the public sector provided by Salix, a not-for-profit organisation funded by BEIS, in partnership with the Department for Education (DfE) aimed at improving energy efficiency, reduce carbon emissions and lower energy bills.
Salix Energy Efficiency Fund (SEEF) | Salix Finance
The GNDF is a new low carbon investment fund established by the North Tyne Combined Authority (NTCA) and managed by Amber Infrastructure Group. The fund can lend to public and private sector entities, including ESCOs, local authorities, SMEs, education (higher & further), health, SPV, not for profit and community schemes.
Green New Deal Fund – NTCA (northoftyne-ca.gov.uk)
Calibrate are also able to help with sourcing other funding and financing avenues with our partners.
Feel free to get in touch to discuss options that could be available for you.