Energy Manager

Canada Infrastructure Bank invests $100 MIL into IonicBlue

July 6, 2023  By  Anthony Capkun

July 6, 2023 – IonicBlue has entered into a $100-million agreement with the Canada Infrastructure Bank (CIB) “to make net-zero more attainable to Canadian organizations striving to reach their decarbonization targets”.

“Funding secured through [CIB] 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, IonicBlue.

IonicBlue is a joint venture between Johnson Controls and Apollo Global Management.

Under the agreement, 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 will be supported by the IonicBlue EaaS (energy-as-a-service) offering, which combines Johnson Controls’ experience in energy efficiency performance contracting with Apollo’s infrastructure expertise and alternative financing capability.

“Through our Building Retrofits Initiative, we’re investing in decarbonizing buildings across the country,” said Ehren Cory, CEO, 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.”

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