Arts Council England (ACE) has unveiled details of the arts organisations that will receive a share of £2.7m as part of the Sustain initiative, which aims to maintain artistic excellence during the recession.

Eight organisations across the country have been successful in their bid to secure support as part of the £40m Sustain fund, which was launched by ACE in April to provide a one-off grant to cover a two-year period between 2009 and 2011. The latest round of funding will see the Philharmonia Orchestra in London receive £760,000, while the London Symphony Orchestra is set to net £600,000 and £630,000 has been set aside for Modern Art Oxford.

Birmingham Opera Company (£120,000), the City of London Festival (£300,000), the Buxton Festival (£100,000) and Deda in Derby (£91,742) have been awarded grants, as well as Project Art Works in Hastings (£89,937). Four organisations were declined funding. ACE chief executive Alan Davey said: "The arts in England are funded by a complex mix of public and private investment which usually works well. So in addition to benefiting from public money, arts organisations work hard to secure private support and to generate income through things like the box office, catering and shop.

"We know audiences want to see adventurous art and, in making these Sustain awards, we're enabling artists throughout the country to go on producing just that, despite tough times." Since its launch, ACE has received more than 120 applications for Sustain funding and the next round of grants is set to be announced in early September.