The Carbon Trust has been reappointed to design and run the next phase of the Government’s Industrial Energy Efficiency Accelerator (IEEA), launched by the Department for Business, Energy, and Industrial Strategy (BEIS) to help accelerate the Net Zero transition.
Over the next four years the Carbon Trust, with support from Jacobs and KTN, will deliver the competitive funding programme. Around £8 million will be available to projects that have the potential to reduce carbon emissions and maximise energy and/or resource efficiency, through demonstration of near to market innovations. The IEEA also aims to address both technical and commercial challenges by providing tailored incubation support to SME technology developers to drive UK expertise, exports and jobs.
The IEEA is funded through the Net Zero Innovation Portfolio (NZIP), a £1 billion fund announced in the Prime Minister’s ten point plan for a green industrial revolution, to accelerate the commercialisation of low carbon technologies, systems and business models in power, buildings, and industry. It is anticipated that the BEIS IEEA funding will unlock up to £10 million of additional investment from the private sector to support the demonstrations.
The current phase of the BEIS IEEA started in 2017. It has successfully awarded a total of £8.1 million and leveraged £7.6 million from the private sector, to fund 16 projects. The programme will complete in December 2021, with the aim of encouraging wider industry adoption of the innovations demonstrated, to deliver a potential energy saving of 40.6TWh by 2031 – the equivalent to reducing 10MtCO2e cumulative carbon savings over ten years.
Paul Huggins, Associate Director at the Carbon Trust, said: “The Carbon Trust is really pleased to have been re-appointed to lead the next phase of the BEIS IEEA. We know funding commercial-scale demonstrations solves two critical market needs at once: it provides support for developers and builds confidence in industry. We are looking forward to work with Jacob’s and KTN to support the next wave of demonstration projects. Adopting no-regrets technologies to save energy and resources will be key for the UK’s industry transition toward net zero.”
