Johnson Controls and Apollo Infrastructure join forces to pursue innovative sustainability and energy efficiency services for commercial buildings

CORK, Ireland and NEW YORK, Aug. 12, 2021 /PRNewswire/ -- Johnson Controls (NYSE: JCI), the global leader for smart, healthy and sustainable buildings, and funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO), a leading global alternative asset manager, today announced a strategic partnership providing sustainability and energy efficiency services to help customers address decarbonization and operating cost goals for their buildings.

The new venture is intended to provide customers across the United States and Canada with performance-based energy efficiency and smart buildings services at no upfront costs and with predictable monthly fees.

The sustainability services will leverage Johnson Controls' decades of experience in energy efficiency performance contracting, along with its OpenBlue smart buildings technology and services, including the recently launched OpenBlue Net Zero Buildings as a Service. Apollo brings its infrastructure expertise and fund capital to offer customers flexible solutions to meet their energy savings and decarbonization objectives.

"Johnson Controls is a trusted global leader in sustainable buildings, and we're thrilled to combine their expertise and scaled suite of services with our fund capital and experience to bring customers fully financed, turnkey solutions to lower energy costs, improve energy reliability and reduce their carbon footprint," said Geoffrey Strong, Senior Partner and Co-Head of Infrastructure and Natural Resources at Apollo. "We see strong and enduring demand for greater energy efficiency and sustainability. This new venture will help companies find innovative, more affordable means to take on these critical infrastructure projects and aligns with Apollo's longstanding commitment to ESG."

The venture targets a range of efficiency offerings tailored to schools, campuses, data centers, healthcare facilities as well as commercial and industry facilities, as more customers look to meet environmental standards to combat climate change and reach their carbon neutrality goals. The partnership provides a new strategic option for addressing the North American segment of the estimated $240 billion global market¹ for decarbonization retrofit and services over the next decade.

"Meeting decarbonization, energy efficiency and sustainability goals while managing risk and reducing cost is a clear priority for our customers," said Johnson Controls Executive Vice President and CFO Olivier Leonetti. "This new venture with Apollo combines strategic capital with our cutting edge OpenBlue services to provide customers with guaranteed outcomes and risk management models to achieve emission reductions and sustainability commitments and contribute to healthier buildings, people, places and planet."

To download Johnson Controls recent survey on Net Zero buildings as a service offerings, visit: https://www.johnsoncontrols.com/insights/2021/thought-leadership/open-blue-net-zero-buildings-pulse-survey

To read more about Johnson Controls POV on why companies benefit from a single strategy for sustainability and digitalization, visit: https://www.johnsoncontrols.com/insights/2021/white-paper/the-case-for-unifying-sustainability-and-digitalization-strategies

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. 

With a history of more than 135 years of innovation, Johnson Controls delivers the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through its comprehensive digital offering, OpenBlue. With a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world's largest portfolio of building technology, software as well as service solutions with some of the most trusted names in the industry. For more information, visit www.johnsoncontrols.com or follow us @johnsoncontrols on Twitter.

About Apollo
Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2021, Apollo had approximately $472 billion assets under management. To learn more, please visit www.apollo.com.

Johnson Controls International plc Cautionary Statement Regarding Forward-Looking Statements

Johnson Controls International plc has made statements in this communication that are forward-looking and therefore are subject to risks and uncertainties. All statements in this document other than statements of historical fact are, or could be, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this communication, statements regarding Johnson Controls' future financial position, sales, costs, earnings, cash flows, other measures of results of operations, synergies and integration opportunities, capital expenditures and debt levels are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" and terms of similar meaning are also generally intended to identify forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Johnson Controls cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls' control, that could cause Johnson Controls' actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: Johnson Controls' ability to manage general economic, business, capital market and geopolitical conditions, including global inflation; Johnson Controls' ability to manage the impacts of natural disasters, climate change, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as the COVID-19 pandemic; the strength of the U.S. or other economies; changes or uncertainty in laws, regulations, rates, policies or interpretations that impact Johnson Controls' business operations or tax status; the ability to develop or acquire new products and technologies that achieve market acceptance; changes to laws or policies governing foreign trade, including increased tariffs or trade restrictions; maintaining the capacity, reliability and security of our enterprise and product information technology infrastructure; the risk of infringement or expiration of intellectual property rights; any delay or inability of Johnson Controls to realize the expected benefits and synergies of recent portfolio transactions such as its merger with Tyco and the disposition of the Power Solutions business; the outcome of litigation and governmental proceedings; the ability to hire and retain key senior management; the tax treatment of recent portfolio transactions; significant transaction costs and/or unknown liabilities associated with such transactions; the availability of raw materials and component products; fluctuations in currency exchange rates; labor shortages, work stoppages, union negotiations, labor disputes and other matters associated with the labor force; the cancellation of or changes to commercial arrangements. A detailed discussion of risks related to Johnson Controls' business is included in the section entitled "Risk Factors" in Johnson Controls' Annual Report on Form 10-K for the 2020 fiscal year filed with the SEC on November 16, 2020, which is available at www.sec.gov and www.johnsoncontrols.com under the "Investors" tab. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this communication are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this communication..

APOLLO
INVESTOR CONTACTS:               

Peter Mintzberg, Head of Investor Relations
+1 (212) 822-0528
[email protected]

MEDIA CONTACTS:
Joanna Rose, Global Head of Corporate Communications
+1 (212) 822-0491
[email protected]

¹ Source: Energy Information Administration, Guidehouse, Urban Green Council, Rocky Mountain Institute & JCI Analysis. Represents incremental opportunity; majority of total opportunity is retrofit. Remainder is onsite renewables and advisory services.

SOURCE Johnson Controls International plc