Budderfly Expands Partnership with Nuveen Energy Infrastructure Credit, Doubling Corporate Debt Facility to $200 Million

Follow-on investment brings Budderfly’s total capital access to over $1.1 billion across equity, corporate debt, and project financing vehicles

SHELTON, Conn.--(BUSINESS WIRE)--Budderfly, one of the fastest growing energy companies in the U.S., today announced the closing of a $100 million expansion of its corporate debt facility with Nuveen Energy Infrastructure Credit (“Nuveen EIC”), bringing the total corporate facility to $200 million and a total investment in excess of $300 million by Nuveen EIC including project debt facilities.

This latest investment reflects the continued expansion of Budderfly’s relationship with Nuveen and builds on an initial $100 million corporate debt facility established in May 2025. Since first partnering in 2024, Nuveen has steadily increased its commitment to Budderfly and participates in both corporate and project financing facilities, supporting the company’s rapid growth and platform scaling. This builds on a series of recent financings, including the expansion of Budderfly’s project debt facilities to $550 million, underscoring continued momentum across its capital strategy.

“Nuveen’s continued investment is a powerful validation of our model and the growing demand for energy infrastructure solutions in the commercial sector,” said Al Subbloie, Chief Executive Officer of Budderfly. “With this expanded facility, we are accelerating deployment at a time when businesses are actively seeking ways to reduce costs, improve operational resilience, and modernize their infrastructure. Our ability to scale is underpinned by strong financial performance, including achieving positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in 2025, and this additional capital enables us to build on that momentum.”

Budderfly will use the additional capital to scale its turnkey energy infrastructure model, helping businesses modernize aging facilities, reduce operating costs, and improve energy performance with no upfront investment. Through long-term service agreements, Budderfly invests in and manages comprehensive infrastructure that includes critical systems like HVAC, lighting, refrigeration, controls, and water technologies.

Budderfly’s platform serves a broad range of industries, including restaurants, retail, healthcare, and manufacturing, delivering measurable cost savings and operational improvements to customers while generating predictable, long-term cash flows.

“Budderfly has demonstrated strong execution and a differentiated ability to deliver infrastructure modernization at scale,” said Don Dimitrievich, Head of Nuveen Energy Infrastructure Credit. “Our increased commitment reflects confidence in the company’s performance, its proven business model, and the significant opportunity to deploy capital into solutions that provide both compelling financial returns and tangible value for customers.”

Nuveen EIC is a leading investor in clean energy and infrastructure finance, bringing deep asset and market expertise and a shared commitment to accelerating US clean energy deployment at a critical moment of rising domestic energy demand. Nuveen’s EIC team provides flexible financing structures, ranging from credit facilities and structured debt and equity solutions to preferred tax equity investments. EIC partners with leading management teams and infrastructure equity sponsors to support project development, construction, and long-term asset ownership.

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 Nuveen
Nuveen, a TIAA company, is a global investment leader, managing $1.4T in public and private assets for clients around the world, as of December 31, 2025. With broad expertise across income and alternatives, we invest in the growth of businesses, real estate, infrastructure, and natural capital, providing clients with the reliability, access, and foresight unique to our 125+ year heritage. Our prevailing perspective on the future drives our ambition to innovate and adapt our business to the changing needs of investors — all to pursue lasting performance for our clients, our communities, and our global economy. For more information, please visit www.nuveen.com.