Shelton-based Budderfly, an energy-as-a-service company, said Tuesday it has secured an additional $100 million in debt financing from Nuveen Energy Infrastructure Credit.
Budderfly said the financing will be used to accelerate the deployment of scalable, holistic energy solutions for energy-intensive buildings nationwide.
The latest financing brings Budderfly’s total capital raised to over $1 billion, the company said.
Budderfly, based at 2 Trap Falls Road, Suite 310, in Shelton, said it will leverage the latest financing to provide “turnkey energy solutions” for commercial properties, “converting aging infrastructure into high-performing, cost-saving assets.”
“Nuveen’s support has been instrumental to our growth, helping us quickly deploy solutions for our customers and scale year over year,” said Al Subbloie, Budderfly CEO.
Subbloie added that surpassing the milestone of $1 billion 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.”
Budderfly’s “behind-the-meter” approach integrates advanced HVACs, LED lighting, smart controls and water-saving technologies at no upfront cost. Through 10- to 15-year service agreements, and by investing its own capital, Budderfly provides customers with lower operating costs and helps them achieve progress toward sustainability.
