<p>The £289m Industrial Energy Transformation Fund (IETF) has run six competition windows to date: Phase 1 of the IETF opened in 2020, and the final window of Phase 2 closed at the beginning of 2023.</p><p>As of July 2023, the Government has already allocated funding to over 130 projects and studies worth around £167.9 million. Allocations by Phase are as follows:</p><p>Phase 1: £48.2m</p><p>Phase 2: £119.6m</p><p>Further IETF allocations will be made once funding decisions for the final window of Phase 2 have concluded in Summer this year.</p>