Partners Group has acquired a majority equity stake in U.S. energy-as-a-service (EaaS) provider Budderfly, committing more than $500 million of additional growth capital.
Budderfly offers EaaS solutions for the measurement, reduction and management of energy demand and consumption. This involves designing, integrating, installing, and fully funding a comprehensive portfolio of energy-efficiency technology upgrades for customers, as well as managing and monitoring their energy usage. Budderfly's solutions include automated controls, proprietary software, metering, and a patented utility-billing interface and billing system that supports more than 400 utility companies in North America.
Budderfly enters into long-term contracts with customers and earns revenues through a share of the energy-cost savings generated by efficiency upgrades and the management and monitoring of energy use and demand.
With more than 2,750 customer sites across 49 states, Budderfly operat