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.
New venture combines Apollo's strategic capital with Johnson
Controls' cutting edge OpenBlue services
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..
JOHNSON
CONTROLS
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INVESTOR
CONTACTS:
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MEDIA
CONTACTS:
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Antonella
Franzen
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Chaz Bickers
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Direct:
609.720.4665
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Direct:
224.307.0655
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Email: antonella.franzen@jci.com
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Email:
charles.norman.bickers@jci.com
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Ryan
Edelman
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Michael
Isaac
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Direct:
609.720.4545
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Direct: +41 52
6330374
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Email: ryan.edelman@jci.com
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Email:
michael.isaac@jci.com
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APOLLO
INVESTOR
CONTACTS:
Peter Mintzberg, Head of Investor
Relations
+1 (212) 822-0528
APOInvestorRelations@apollo.com
MEDIA CONTACTS:
Joanna Rose, Global Head of
Corporate Communications
+1 (212) 822-0491
Communications@apollo.com
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.
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SOURCE Johnson Controls International plc