On March 31, 2023, IonicBlue CleanEnergy Inc., a wholly owned subsidiary of IonicBlue, closed on a $100 million credit facility with Canada Infrastructure Bank.

IonicBlue is a joint venture between Johnson Controls and funds managed by affiliates of Apollo Global Management, Inc. that provides innovative energy efficiency and decarbonization solutions for commercial buildings globally. The term credit facility will provide financing for the project costs related to detailed design, engineering, implementation, and commissioning of energy efficiency projects. These projects plan to reduce energy consumption and greenhouse gas emissions at sites located in Canada.

Blake, Cassels & Graydon LLP represented IonicBlue as Canadian counsel, with a team led by Catherine Doyle (financial services) and Mark Johnson (infrastructure), with assistance from Breanna Young (corporate), Paul Stepak and Andrew Helsdon (tax) and Nadir Pracha (financial services).

Vinson & Elkins represented IonicBlue in the U.S., with a team that included Brett Santoli, Dan Komarek, Maram Mahajna, Crosby Scofield and Noelle Alix.

Canada Infrastructure Bank was represented in-house by Ciprian Gligor. McMillan LLP was their outside counsel, with a team led by Ahsan Mirza and Alex Ricchetti, assisted by Meagan Moulton.