Budderfly Expands Debt Facility to $550 Million to Scale its Energy as a Service Platform

Global Infrastructure Partners Leads $250 Million Upsizing, Joined by Existing Lender Vantage Infrastructure

SHELTON, Conn. – (BUSINESS WIRE) –Budderfly, one of the fastest growing energy companies in the U.S., today announced it has expanded its debt facility to $550 million to support continued growth of its Energy-as-a-Service (EaaS) platform. The facility includes a new $250 million upsizing led by Global Infrastructure Partners (GIP), a part of BlackRock, with participation from existing lender, Vantage Infrastructure. The expanded facility also includes an additional $100 million accordion feature. The transaction reflects strong institutional confidence in Budderfly’s operating model and its ability to modernize and manage energy infrastructure for commercial facilities nationwide.

Budderfly enables commercial facilities, including restaurants, retail, fitness, and manufacturing sites to modernize aging energy infrastructure with no upfront investment, generating savings through improved efficiency, active energy management, and load optimization. The facility will accelerate deployment of Budderfly-owned energy infrastructure across the U.S. mid-market, including energy-efficient technologies, intelligent building controls, and flexible demand assets. The U.S. mid-market segment accounts for an estimated $55 billion in annual electricity spend, with operators continually exposed to price volatility and grid constraints.

“Global Infrastructure Partners’ commitment, along with continued investment from Vantage Infrastructure, is critical to scaling a capital-intensive business like Budderfly,” said Al Subbloie, CEO of Budderfly. This expansion of our debt facility strengthens our ability to own the upfront investment, manage performance over time, and deliver measurable energy and cost-saving outcomes for our customers. It reflects confidence in our model and positions us to continue removing friction for commercial operators as they modernize and decarbonize their facilities.”

This latest milestone builds on Budderfly’s broader capital base, including $500 million in equity backing from Partners Group in July 2022. Vantage Infrastructure increased its commitment to the business and Nuveen remains a significant participant in the facility, both lenders continuing their long-standing support of Budderfly’s growth.

About Budderfly

Budderfly, ranked as the fastest-growing Energy as a Service (EaaS) company in the United States, installs, monitors, and manages a combination of patented efficiency technologies, including equipment upgrades and proprietary energy software, for its customers. Businesses benefit from capital preservation, a reduced carbon footprint, more reliable operations, and an improved customer and employee experience. To date, Budderfly has helped customers avoid more than 330,000 metric tons of carbon emissions. Budderfly ranked on the Inc. 5000 America’s Fastest-Growing Private Companies list for five consecutive years and the Deloitte Technology Fast 500 list from 2023 to 2025. In 2025, Budderfly was named to Fast Company’s worldwide list of Most Innovative Companies, CEO Al Subbloie was named to the TIME100 list of the world’s most influential climate leaders, and Budderfly’s Virtual Power Plant was named one of TIME’s Best Inventions. For more information, visit www.budderfly.com.

About Global Infrastructure Partners (GIP), a Part of BlackRock

Global Infrastructure Partners (GIP), a part of BlackRock, is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors.

GIP’s scaled platform has over $193 billion in assets under management. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our clients’ capital and create positive economic impact for communities. For more information, visit www.global-infra.com.

About Vantage Infrastructure

Vantage Infrastructure is an independent infrastructure specialist manager committed to delivering sustainable investment solutions with an equity and debt infrastructure investment portfolio of over US$4 billion invested in infrastructure assets across Europe, North America and Australia on behalf of global clients. www.vantageinfra.com.