SHELTON – The energy-as-a-service company Budderfly has surpassed $250 million in revenue run rate, achieving an average of 66% year-over-year growth for three consecutive years.
According to a release from the Shelton company, even amid policy and economic uncertainty, demand remains strong for Budderfly’s model. The company helps commercial facilities preserve capital, strengthen operational resilience, and deliver measurable environmental benefits. Over the past 12 months, Budderfly expanded its energy under management by 46%, growing from 233.8 MW to 340.8 MW, and delivered a 39% increase in energy savings and carbon emissions reductions across its customer portfolio.
“Sustainability and profitability are not only compatible, they’re mutually beneficial,” said Budderfly CEO Al Subbloie. “By transforming how customers approach their energy infrastructure, we’re helping them preserve capital, reduce their carbon footprint, and build more resilient communities.”
The company’s growth was fueled by its expanded footprint into new industries, adding manufacturing plants, state buildings, fitness centers, and more to its portfolio of 8,000+ commercial sites. Recent additions to Budderfly’s customer portfolio include The Gilman Brothers Company, Lazy Dog, and franchise locations of McDonald’s, Dunkin’, Gold’s Gym, Planet Fitness, and Goodwill.
Additionally, Budderfly’s commitment to innovation fueled the expansion and activation of its virtual power plant platform across four of the nation’s largest energy markets: California (CAISO), New England (ISO-NE), PJM Interconnection (PJM), and Southwest Power Pool (SPP) service territories.
Budderfly has avoided more than 300,000 metric tons of carbon emissions across its customer portfolio.
Through its VPP, Budderfly empowers customers to unlock new revenue streams, tackle broader industry challenges, and become intelligent, responsive participants in the grid. Budderfly’s VPP creates new pathways for load flexibility in sectors that utilities often struggle to reach.
“As energy demand surges from power-hungry energy users like data centers, behind-the-meter assets are playing an increasingly important role in maintaining flexibility and reliability,” said Pavel Molchanov, analyst at Raymond James. “Companies such as Budderfly take an innovative approach to modernizing energy infrastructure at commercial sites, where onsite energy efficiency technologies and distributed systems ensure business owners’ access to reliable power and help support a more flexible and resilient grid.”
Strong Capital Backing
Marking another milestone in its rapid growth, Budderfly completed a $100 million debt raise from Nuveen Energy Infrastructure Credit, bringing its total capital raised to over $1 billion. This capital strengthens Budderfly’s ability to scale operations and deploy critical energy infrastructure across its commercial portfolio, ensuring it can continue delivering long-term value to customers, partners, and utilities.
“Budderfly’s accelerating growth reflects the strength of its innovative energy-efficiency-as-a-service solution,” said Patrick Langan, managing director, Infrastructure Americas at Partners Group and a Budderfly board member. “Amid shifting economic conditions, Budderfly has played an important role in helping businesses manage costs and mitigate future risks. We continue to see strong thematic tailwinds in the energy efficiency sector as more businesses realize the power of integrating these solutions into their operational setup.”
