Budderfly’s US$100m Boost Powers Energy-as-a-Service Growth
Budderfly, the energy-as-a-service (EaaS) provider focused on reducing consumption in energy-intensive sectors, adds another US$100m in debt financing to its operations.
The latest investment comes from Nuveen Energy Infrastructure Credit and raises the company’s total capital raised to more than US$1bn.
The funding will expand Budderfly’s model of installing energy-saving systems in commercial buildings with no upfront cost.
Targeting high-consumption industries such as food service, fitness, retail and education, the company is positioning its offering as a route to cost efficiency and lower emissions at scale.
Investment unlocks wider retrofit potential
Budderfly aims to tackle inefficiencies in commercial properties through its turnkey service model.
Its retrofit strategy equips buildings with smart thermostats, high-efficiency HVAC (heating, ventilation and air conditioning) units, LED lighting and refrigeration controls.
These installations typically lower energy use by up to 40%.
The EaaS model removes upfront costs entirely, offering instead a long-term service agreement of 10 to 15 years.
This structure means businesses avoid capital expenditure and still access reduced operational costs and compliance support for environmental targets.
“Nuveen’s support has been instrumental to our growth, helping us quickly deploy solutions for our customers and scale year over year,” says Al Subbloie, CEO of Budderfly.
“This milestone, surpassing US$1bn in capital, is more than just an achievement for our company, it’s clear validation of the importance of energy efficiency in the built environment.
"Especially in today’s increasingly complex macro environment, businesses need resilient, market-driven solutions and our model delivers just that: energy savings at zero cost.”
Nuveen Energy Infrastructure Credit, which backs technologies offering predictable financial and environmental returns, views Budderfly as a model for scalable carbon reduction.
“Budderfly’s energy management platform is one of the most compelling models we’ve seen for delivering real, scalable decarbonisation in the built environment," explains Don Dimitrievich, Head of Nuveen Energy Infrastructure Credit.
"Its ability to generate predictable cash flows, deliver energy savings for Budderfly’s clients, and serve a largely untapped market segment makes Budderfly a high-impact, high-return investment for Nuveen Energy Infrastructure Credit.”
Integrating technology to manage demand
Beyond retrofitting, Budderfly’s platform uses digital tools to analyse energy use in real time.
This includes detecting equipment that is left on unnecessarily or identifying inefficient patterns.
The company claims that in 2024 alone, it cut customer energy use by 43% more than in 2023, equating to 219.1 tons of CO₂ emissions avoided.
Water-saving systems and improved heating also play a role, supporting environmental, social and governance (ESG) commitments by improving performance across multiple utility areas.
This energy management function adds value by supporting companies not just with cost-saving but also in meeting regulatory or voluntary ESG targets.
Visibility into these savings is available through Budderfly’s Customer Portal, offering users a detailed view of financial and emissions performance.
Accessible path to energy efficiency
Budderfly’s approach works particularly well for small to mid-sized businesses.
These companies are often locked out of high-efficiency upgrades due to capital limitations.
By covering installation costs and delivering guaranteed savings, Budderfly offers access to sustainability measures that were once cost-prohibitive.
As emissions reporting and ESG disclosures become more widespread across commercial sectors, Budderfly’s model meets growing demand for action and accountability.
By combining technology, service delivery and funding, it provides a practical way to bring high-energy-use buildings in line with net zero goals.
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