IonicBlue® and CIB Partner to Promote Decarbonization
News
[EAST RUTHERFORD, NJ] May 26, 2023 – IonicBlue®, an industry-leading Energy-as-a-Service company, has received a CAD $100 million (USD $73.4 million) investment from Canada Infrastructure Bank’s (CIB) Building Retrofits Initiative toward helping public and private Canadian organizations reach their decarbonization goals.
The collaborative venture between IonicBlue® and CIB will enable building owners across Canada to engage IonicBlue® without any upfront capital investment or internal resources to conduct an energy audit, custom-create and execute a comprehensive energy plan, and manage all maintenance and optimization.
Energy efficient solutions will enable commercial, industrial, manufacturing and government building owners to decrease their energy output and carbon footprint, increase energy savings and advance sustainability goals, and establish a fixed monthly energy bill – all while refocusing capital to core business and increasing EBITDA and valuation.
“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 net zero journeys for businesses while creating healthy and safe environments for the present and well into the future.”
“Our partnership with IonicBlue® and Johnson Controls will help organizations reach their sustainability targets through energy efficient building upgrades, bringing Canada one step closer to our net zero goals,” said Ehren Cory, CEO of Canada Infrastructure Bank.
About IonicBlue®
IonicBlue® is a joint venture between Johnson Controls, the global leader in delivering energy and infrastructure solutions, and Apollo Funds, a leading, global alternative asset manager. 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 their business.
About Canada Infrastructure Bank
Canada Infrastructure Bank (CIB) is an impact investor developing the next generation of infrastructure Canadians need. The CIB Building Retrofits Initiative (BRI), provides long-term investment solutions focused on upgrades which modernize and improve the energy efficiency of existing buildings. CIB is transforming the retrofits market by leading the way for private financing. Learn more at https://cib-bic.ca/en/.
