Budderfly Receives $5 Million in Financing from

Connecticut-based Budderfly helps franchises and other businesses improve their energy efficiency, lowering their operating costsHartford, CT (June 28, 2022) The Connecticut Green Bank today announced $5 million in secured loan facilities to support the market expansion of Budderfly, a Connecticut-based company providing a unique energy management solution. Among our top achievements in the state, Budderfly is helping Ryders Health Managements Mystic Facility hit near net-zero carbon emissions through energy efficiency and on-site renewables at no up-front cost. Budderfly provides energy-saving equipment for its customers, assuming responsibility for logistics, up-front capital, and other associated risks for the business owners it serves. A significant portion of Budderflys existing portfolio is in Connecticut, and it is committed to maintaining and growing its in-state customer base.The Green Bank is excited to support Budderflys innovative and successful approach to addressing energy waste in commercial businesses, said Bert Hunter, Chief Investment Officer of the Connecticut Green Bank. We see our participation as supplementary and complementary to the existing financial support from private capital and other Connecticut government funding for a local based company in the process of achieving significant scale in the energy as a service sector in the commercial market, particularly with small business franchise operations that have unique challenges when it comes to investing in energy efficiency.The Connecticut Green Bank provided Budderfly with a six-year $5 million loan.