It is hoped the money will be used to help businesses reduce costs related to energy and also improve their environmental credentials.
Geoff Smyth, the Northern Ireland manager of the Carbon Trust, said the funding was "great news" for companies in the area.
He added: "It will also allow us to support innovative local companies working to develop and commercially exploit the opportunity provided by the increasing demand for low carbon products, goods and services."
Recent research published by the Carbon Trust found that companies in the UK are wasting a total of £7 million a day due to poor energy efficiency.
It was also revealed that firms could collectively save around £2.5 billion during the next year by becoming more eco-friendly.
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