Elco welcomes new Industrial Energy Transformation Fund

Elco Heating Solutions has welcomed the launch of phase two of the Industrial Energy Transformation Fund (IETF), recently introduced by the government.

The IETF allows businesses in some of the most polluting and energy intensive industries to bid for a share of £220 million in investment. This fund is designed to help businesses cut their carbon emissions and the costs of their energy bills.

Companies can obtain grants of up to £30 million, allowing them to invest in a wide range of actions including installing more efficient boilers and heat pumps. This means businesses will not only reduce their environmental impact, but also save on costs.

“At Elco, we welcome the investment from the UK government and believe it is necessary in order to drive up efficiencies and continually lower emissions from industry,” said Andreea Manoiu, national sales manager for Elco Heating Solutions. “By combining incentives such as the IETF with the latest heating and hot water technology available, such as our heat pumps or very latest condensing boilers, it presents a tremendous opportunity.

“The UK needs to cut two thirds of emissions by 2035 in order to meet 2050 targets, and updating ageing heating and hot water equipment is key to putting the country on the right track,” added Manoiu. “With the wide variety of heating and hot water technology available, we’re sure this initiative will have a positive impact, which is why we wholeheartedly support its introduction.”