• The credit agreement between IonicBlue and Canada Infrastructure Bank will accelerate private and public sector decarbonization retrofit projects.
• The agreement represents a major opportunity for organizations throughout Canada to improve their infrastructure while simultaneously improving energy efficiency and reducing carbon emissions.

East Rutherford, N.J., May 23, 2023 – IonicBlue® today announced a CAD $100 million agreement with the Canada Infrastructure Bank (CIB) to make net zero more attainable to Canadian organizations striving to reach their decarbonization targets. IonicBlue is a joint venture between Johnson Controls (NYSE: JCI), the global leader for smart, healthy and sustainable buildings, with funds managed by Apollo Global Management, Inc. (NYSE: APO), a leading global alternative asset manager.

“Funding secured through the Canada Infrastructure Bank and administered by IonicBlue will further decarbonization while creating energy savings and efficiencies for organizations throughout Canada, thanks to IonicBlue’s partnership with Johnson Controls,” said Reid Barley, CEO of IonicBlue. “This venture is designed to map out net zero journeys for businesses while creating healthy and safe environments, both in the present and well into the future.”

Under the IonicBlue agreement, the CIB will invest funds into public and private decarbonization projects within commercial, industrial, manufacturing, and government buildings, as well as airports, hospitals and universities. These efforts are supported by the IonicBlue Energy-as-a-Service (EaaS) offering, which combines Johnson Controls’ global experience in energy efficiency performance contracting with its OpenBlue suite of connected smart buildings technology and services. Within the joint venture, Apollo brings additional infrastructure expertise and alternative financing capability to offer customers flexible solutions for meeting their energy savings and decarbonization objectives. The projects financed under this program will be empowered with capital, expertise and solutions to make tangible progress toward decarbonization goals that simultaneously make facilities smarter, safer and healthier for occupants — all while simplifying access to capital for investment in core strategic priorities.

“Through our Building Retrofits Initiative, we’re investing in decarbonizing buildings across the country,” said Ehren Cory, CEO of the CIB. “Our partnership with Johnson Controls and IonicBlue will help organizations reach their sustainability targets through energy-efficient building upgrades, bringing Canada one step closer to our net zero goals.”

EaaS offers a one-stop-shop for turnkey energy and infrastructure solutions that can be tailored to schools, campuses, data centers, and health care facilities, as well as to commercial and industrial facilities, as more customers look to meet environmental standards to combat climate change and reach their carbon neutrality goals. To learn more about the program, visit https://www.ionicbluellc.com/.

About IonicBlue

IonicBlue®, founded in 2021 and headquartered in East Rutherford, NJ, is a joint venture between Johnson Controls, the global leader in delivering energy and infrastructure solutions, and funds managed by Apollo Global Management a leading, global alternative asset manager. We deliver a total solutions approach through the expertise of Johnson Controls and the ability of Apollo to provide alternative capital solutions. Our combined efforts enable IonicBlue® customers to pursue responsible environmental sustainability solutions with a financial vehicle that preserves capital and creates value at the core of your business.

About Johnson Controls

At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places and the planet.

Building on a proud history of nearly 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through OpenBlue, our comprehensive digital offering.

Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world’s largest portfolio of building technology and software, as well as service solutions from some of the most trusted names in the industry.

Visit http://www.johnsoncontrols.com for more information, and follow @Johnson Controls on social platforms.