CIB is investing $100 million towards IonicBlue, a joint venture between Johnson Controls, to help building owners begin retrofit projects.Photo provided by CIB.
Ottawa, ON — The Canada Infrastructure Bank’s (CIB) Building Retrofits Initiative is investing $100 million to help advance public and private energy-efficient building upgrades within commercial, industrial, manufacturing, and government buildings, including airports, hospitals and universities.
The investment will go towards collaboration between IonicBlue and Johnson Controls.
“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. 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,” said Reid Barley, CEO of IonicBlue.
IonicBlue is a joint venture between Johnson Controls and Apollo Global Management, a global alternative asset manager. IonicBlue’s “Energy-as-a-Service” offering combines Johnson Controls’ experience in energy efficiency performance upgrades and its OpenBlue NetZero Buildings as a service suite of building technology and services.
Building owners can access IonicBlue’s technical and financial resources to implement retrofits through this investment. The goal is to optimize energy performance and reduce properties’ carbon footprints without requiring upfront investment or internal resources.