Industrial Energy Transformation Fund
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment he has made of the adequacy of the take-up of the Industrial Energy Transformation Fund.
Answered by Chris McDonald
DESNZ has assessed the adequacy of take-up of the Industrial Energy Transformation Fund (IETF) through the Evaluation of the Industrial Energy Transformation Fund (alongside the IETF Benefit Report), published on 29th of January 2026.
The evaluation found that the IETF was viewed by the majority of beneficiaries as an attractive offer by grant recipients and has supported the deployment of mature industrial decarbonisation technologies at scale. It found that most projects delivered by grant recipients would not have proceeded in the absence of IETF support, and that the fund filled a gap in capital expenditure support for these types of initiatives, allowing companies to take on more risk with feasibility studies and non-core technology projects.
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