£30m Heat Pump Investment Competition Opens to Applications
As a means of reducing reliance on fossil fuels to heat buildings, this £30 million competition is designed to boost manufacturing and supply of heat pumps in the UK.
The Heat Pump Investment Accelerator Competition aims to bring forward investment in the UK heat pump manufacturing supply chain, to build resilience, create new low carbon jobs and secure the economic benefits of net zero.
The scheme will fund major investments in the manufacture of heat pumps and strategically important components. It is open to UK registered manufacturing businesses conducting projects in the UK.
The total funding available for the competition is fixed at up to £30 million. The maximum grant for any single project capped at £15 million (applicants from, or linked to, Northern Ireland will be limited to €15 million per project).
Funding will be provided relating to either the construction of new factories, or the expansion, retooling or reworking of existing factories, to produce heat pumps and/or their components, such as heat exchangers, compressors, evaporators, control systems or thermal storage.
The deadline for applications is 4 October 2023 (15:00 BST).
(This report was the subject of a GRANTfinder Newsflash.)
