What Budderfly does

Budderfly is a US Energy-as-a-Service company that finances, installs, operates, and maintains energy-efficient equipment — HVAC, LED lighting, refrigeration, solar, and now battery storage — at commercial customer sites at no upfront cost, recovering its investment through shared energy savings. Founded in 2017 by Al Subbloie (previously founder and CEO of Tangoe), Budderfly is headquartered in Shelton, Connecticut, and reports serving more than 8,500 commercial locations across restaurants, retail, healthcare, fitness, hospitality, manufacturing, schools, and convenience stores.

The platform layers proprietary IoT hardware, the Budderfly Cloud, and patented HVAC, load balancing, and microgrid controls on top of an in-house smart monitoring and consolidated billing system. In 2024 Budderfly acquired Sunverge Energy's grid-edge DERMS platform to orchestrate distributed energy assets, and in 2025–2026 it activated a multi-ISO Virtual Power Plant (active across four major US energy markets) and launched the 'Energy Lake' battery storage product in partnership with Viridi. The company holds 34 granted US patents with 34 additional applications pending.

Budderfly generates revenue through two streams: (1) a performance-based managed services model where Budderfly is paid out of the energy savings it delivers, and (2) usage-based revenue from grid services and demand response via its Virtual Power Plant. The go-to-market is a consultative, sales-led enterprise field motion targeting multi-location operators and franchise brands, with 22% reported average annual energy savings and over $248M deployed into customer facility upgrades. Cumulative capital raised exceeds $1 billion, anchored by a $500M equity investment from Partners Group and a $550M debt facility led by Global Infrastructure Partners (BlackRock) with Vantage Infrastructure and Nuveen, and the company achieved positive EBITDA in 2025.

Name

Budderfly

Legal name

Budderfly Inc.

Website

https://budderfly.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Budderfly is a US Energy-as-a-Service company that finances, installs, and manages HVAC, lighting, refrigeration, solar, and battery storage upgrades at no upfront cost across 8,500+ commercial locations in QSR, retail, healthcare, hospitality, manufacturing, education, and convenience retail, monetizing shared energy savings and grid services.

Ownership category

akta.pro rank

Headquarters

HQ city

Shelton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Supply Chain, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Energy-as-a-Service (EaaS) Performance-Based Model: Budderfly finances, installs, operates, and maintains energy-efficient equipment (HVAC, lighting, refrigeration, solar, battery storage) at commercial customer sites at no upfront cost. The company generates revenue by monetizing the energy savings achieved, with customers sharing in the savings outcomes. Budderfly's success is tied directly to energy reduction performance, creating a long-term partnership model where the company reinvests savings into further innovation.
2. Virtual Power Plant Grid Services: Revenue generated by coordinating distributed energy assets (HVAC, refrigeration, battery storage) across customer sites to provide demand response and grid flexibility services to utilities and grid operators in ISOs.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

Budderfly provides Energy-as-a-Service to U.S. commercial businesses, financing, installing, operating, and maintaining energy-efficient equipment such as HVAC, LED lighting, refrigeration, solar, and battery storage at customer sites at no upfront cost. The company monetizes the resulting energy savings through a shared-outcomes model, complemented by proprietary smart monitoring software, a Measuring & Billing platform, and a multi-ISO Virtual Power Plant that coordinates distributed assets for grid flexibility.

Product overview

Budderfly offers an integrated Energy as a Service (EaaS) platform that combines equipment upgrades (HVAC, LED lighting, solar, water controls, refrigeration), smart technology monitoring, and a Virtual Power Plant for grid flexibility. The core EaaS model provides financing, installation, operation, and maintenance of energy-efficient infrastructure at no upfront cost. Key product components include the VPP for demand response, Energy Lake for battery storage, IoT devices (thermostats, power meters, controllers), and Measuring & Billing Technology for utility management. The portfolio spans 8.5K+ locations nationwide serving restaurants, retail, healthcare, manufacturing, hospitality, schools, and convenience stores.

Differentiator

Problem solved

Functional benefit

Brands

• Energy Lake: Battery storage product offering launched in April 2026 for commercial sites, rolling out installations at 11 initial locations across Connecticut, Massachusetts, and California.

Products and services

• Energy as a Service (EaaS) Comprehensive managed energy solution in which Budderfly finances, installs, operates, and maintains HVAC, lighting, refrigeration, solar, water, and building controls at commercial customer sites with no upfront capital cost; the company monetizes the resulting energy savings through a shared-outcomes model with monthly billing.
• Equipment Upgrades High-efficiency HVAC systems, LED lighting, solar solutions, water controls, and refrigeration controls and monitoring installed at customer facilities as part of the Energy-as-a-Service deployment.
• Smart Technology Monitoring Real-time monitoring software providing alerts for usage spikes, refrigerator door status, temperature deviations, equipment efficiency issues, and technical support needs across customer facilities.
• Measuring & Billing Technology Patented utility billing management system that consolidates utility bills into one predictable monthly statement with full transparency into energy consumption, savings, and operational insights through a customer portal.
• Virtual Power Plant (VPP) Real-time demand response platform activated across four major U.S. ISOs that coordinates HVAC, refrigeration, lighting, and battery storage assets at customer sites to deliver grid flexibility and emissions reduction, transforming small and medium commercial businesses into active grid assets.
• Energy Lake Battery Storage Behind-the-meter battery storage offering enabling commercial customers to store energy, reduce peak demand, improve energy cost predictability, and strengthen grid resilience without requiring upfront capital investment.
• IoT Device Portfolio Patented IoT hardware deployed at customer sites including Wi-Fi Multiway Switch, Wi-Fi Controllable Outlet, Wi-Fi Power Strip, Wi-Fi Power Meter, Wi-Fi Power Controller, Water Valve, Dimming Power Pack, and Thermostats for energy management and monitoring.
• EnergyCloud Cloud-based platform referenced in customer case studies that provides monitoring and control capabilities for store energy management and transformation across Budderfly-managed commercial locations.

Quantifiable outcome

• 22% average annual energy savings across customer base
• +7 more outcomes

Named customers37 records

Segments8 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature9 records

Partnerships

Two partnerships are on record, tiered core.

• ViridicoreTechnology or Integration · 17 June 2026Budderfly partnered with Viridi to deploy approximately 100 battery energy storage systems (RPSLinkEX systems using lithium-ion NMC chemistry, typically 30 kW/150 kWh capacity) at Budderfly-managed commercial sites across the United States. Initial deployments started in Massachusetts, Connecticut, and California, with plans to expand to thousands of commercial locations. The partnership enables customers to reduce peak demand, improve energy cost predictability, and strengthen grid resilience without upfront capital investment.
• Sunverge EnergycoreTechnology or Integration · 1 August 2024In August 2024, Budderfly acquired a grid-edge Distributed Energy Resource Management System (DERMS) platform from Sunverge Energy to better manage and optimize energy assets for small to mid-sized commercial buildings. The acquisition strengthens Budderfly's proprietary technology stack for VPP operations and distributed energy coordination.

Scale indicators14 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Redaptive: Redaptive is a direct EaaS peer that finances, installs, and manages energy-efficiency and distributed energy upgrades at commercial and industrial facilities with shared-savings contracts. Both companies target multi-site customers, take on 100% of upfront capital risk, and monetize energy savings plus grid services.
• Metrus Energy: Metrus Energy offers Efficiency-as-a-Service and PACE financing for commercial and industrial energy projects, sharing in verified savings with customers. It is directly comparable to Budderfly's performance-based, no-upfront-cost model for HVAC, lighting, and building efficiency upgrades.
• CLEAResult: CLEAResult designs and implements energy efficiency programs for utilities, businesses, and governments, often serving multi-site commercial customers. While it operates more on a services/utility-program basis, its customer base and value proposition overlap directly with Budderfly's mid-market commercial energy efficiency work.
• McKinstry: McKinstry provides design, build, operate, and maintain services for energy and facility infrastructure across commercial, institutional, and industrial customers. Like Budderfly, it sells outcome-based energy solutions and on-site generation/storage projects to multi-location owners.
• Willdan Group: Willdan provides energy efficiency, engineering, and consulting services to utilities, municipalities, and commercial clients, including program implementation and on-site energy upgrades. Its commercial energy services portfolio competes with Budderfly's mid-market offering.

Emerging players

• EnergyHub: EnergyHub is a DERMS platform that helps utilities aggregate distributed energy assets (thermostats, batteries, EVs) into virtual power plants. Budderfly's VPP/DERMS platform overlaps directly with EnergyHub's demand-response aggregation business, particularly in commercial load management.
• Carbon Lighthouse: Carbon Lighthouse delivers guaranteed energy savings and decarbonization projects for commercial real estate, often using a performance-based model. It targets an overlapping mid-market commercial customer base with similar outcome-based contracts.

Broad incumbents

• Schneider Electric: Schneider Electric offers a broad portfolio including EcoStruxure building management, energy monitoring software, DERMS via AutoGrid, and sustainability services. It competes with Budderfly across software, controls, and grid services, though as part of a much larger portfolio rather than a focused EaaS offering.
• ENGIE Impact: ENGIE Impact delivers energy management, sustainability, and decarbonization services to enterprises and multi-site operators globally. Its portfolio of energy efficiency, on-site generation, and managed services overlaps with Budderfly's commercial EaaS and ESG offerings.
• Enel X Way / Enel North America: Enel X (now reorganized within Enel's North American operations) provides demand response, distributed energy, and EV charging solutions to commercial and industrial customers. Its grid-services and behind-the-meter offerings overlap with Budderfly's VPP and DER coordination business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/BudderflyEnergy
• YouTubeyoutube.com/channel/UCTlB2gOFCGfERpue7Dhrjjw
• Facebookfacebook.com/budderflyenergy
• LinkedInlinkedin.com/company/budderfly-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds7 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Budderfly