Budderfly is an “Energy- as-a-Service” (EaaS) company focused on helping small and medium-sized businesses (SMBs), multi-site franchises, and facilities reduce energy waste, upgrade infrastructure, and transition toward more sustainable operations. Pulse 2.0 interviewed Butterfly’s Director of Corporate Project Management and Analysis, Ibhade Eigbobo, to gain a deeper understanding of the company.
Overview Of Budderfly
Can you provide an overview of Budderfly? Eigbobo said:
“Budderfly offers holistic and scalable energy management solutions tailored for energy-intensive buildings across the commercial sector. Our mission is to deploy technology that eliminates energy waste and drives measurable efficiency gains. We invest the capital to upgrade the infrastructure and take on the risk–not the customer.
“We manage the entire process: investing the capital, installing and maintaining energy-saving technologies, and managing performance over a 10-year contract. This allows our customers to save on energy costs, reduce their carbon footprint, and improve operations. We earn revenue as a share of those savings, incentivizing both parties for better energy efficiency. This model is unique from a financial standpoint as it positively affects both the customer’s income statement (reduced expense via the installations and potential discount on energy we provide) as well as the balance sheet (no CAPEX required for qualifying sites). Not many models or as a service companies can say that.”
Ibhade Eigbobo’s Background
Could you tell me more about your background? Eigbobo shared:
“I was born and raised in Nigeria, and knew I wanted to be an engineer after my dad took me on a trip to NASA in Houston. His interest in rockets really captivated me, and I wanted to become an aerospace engineer to build one in his name. I earned my undergraduate and master’s degrees in mechanical engineering and then worked in oil and gas in South Texas and Louisiana. My job was to make sure the plant didn’t explode, in simple terms.”
“It was a great experience, but I knew that I wanted to make more of an impact. This led me to enroll at Harvard Business School. While there, I explored everything from crypto to VC to electric vehicle fleet models. That’s when I came across Budderfly. I immediately knew it was a different type of company making a difference in the world, and I was thrilled to join the team two years ago.”
“As Director of Corporate Project Management and Analysis, I focus on three key areas. First, I lead new strategic projects for Budderfly. For example, I assess how new technologies, such as batteries and fuel cells, integrate with our core model and determine how they fit into our business from both a financial and operational perspective.”
“Second, I lead our ongoing improvement initiatives, working closely with leaders across teams to identify operational inefficiencies, address pain points, and implement scalable solutions that drive performance and impact.”
“Third, I lead emerging programs, pilots that help us explore additional savings opportunities for our customers. Water conservation is a great example; when we added it to our suite of offerings, I helped shape how it fits into our overall strategy and business model.”
Favorite Memory
What has been your favorite memory working for the company so far? Eigbobo reflected:
“One of the best initiatives I worked on started as a small task, but quickly grew into something much bigger. Our CEO received a lead from a municipality interested in exploring the use of land for community solar. He brought it to the team and me as a potential entry point into municipal work and the residential sector. From there, I developed a proposal for the installation and management of energy systems, including solar, batteries, fuel cells, and heat pumps, along with Budderfly’s core energy efficiency solutions like LED lighting. The proposal also included public EV charging and commercial fleet electrification, covering both vehicles and charging infrastructure. Our CEO and I later presented the project at a town hall. It was a great example of the freedom we have to pursue innovative ideas, and I was really proud to be part of it.”
Core Products
What are the company’s core products and features? Eigbobo explained:
“Budderfly delivers fully outsourced energy management by upgrading and maintaining the systems inside a business that waste the most energy. We take a holistic approach, installing and integrating technologies like advanced HVAC, smart controls, high-efficiency lighting, and water-saving solutions that work together across a site’s entire footprint. Unlike traditional utilities, Budderfly goes beyond the meter to own, optimize, and maintain this infrastructure over the long term. With our 10-year service agreements, we invest our own capital to turn outdated energy and water systems into high-efficiency assets that generate revenue, improve operations, and support sustainability.”
Challenges Faced
Have you faced any challenges in your sector of work recently? Eigbobo acknowledged:
“Water conservation has been both an opportunity and a learning curve. The solutions themselves—installing efficient toilets, urinals, faucets, dishwashers, and metering valves—are straightforward and quick to deploy. But unlike electricity, water usage is less predictable. It depends heavily on how many people are actually in a building, which can vary on a daily basis.”
“We’re continually learning how to refine and optimize our solutions. For example, we discovered irrigation systems that weren’t initially factored into monthly usage patterns, or water pressure drops caused by valve installations. In one case, we reduced the pressure too much at a customer location, and the fix was simple: we took out the valve. To prevent that from happening again, we always measure water pressure beforehand and have established a minimum threshold it must meet before we install any valves.”
Evolution of The Company’s Technology
How has the company’s technology evolved since it started? Eigbobo noted:
“Budderfly has always focused on energy efficiency, but we are continuously identifying opportunities to expand our technology offerings.”
“ We’ve recently made a significant step in our load management capabilities by creating a behind-the-meter energy network in the commercial sector through the acquisition of Sunverge Energy’s Distributed Energy Resource Management System (DERMS). We officially launched our VPP platform this year, activating real-time demand response across multiple U.S. independent system operators (ISOs). This addition lets us coordinate energy usage across thousands of sites in real time, responding to utility signals, reducing strain on the grid, and even unlocking new revenue streams for our customers.”
“We are also in the process of testing geothermal energy for customers. While the technology has a lot of promise and can be very energy efficient, the upfront cost is high. We’re learning how to make it work within our business model and to identify the right types of customers. That said, once a geothermal heat pump is installed, it’s pretty low-maintenance. We’re lucky to have one in our warehouse to help advance our innovation efforts, thanks to having a CEO who leads with innovation.”
Significant Milestones
What have been some of the company’s most significant milestones? Eigbobo cited:
“2025 has been a pivotal year for Budderfly.”
On the innovation front, we launched the first fully-integrated virtual power plant (VPP) designed specifically for small and midsize businesses, which was recognized as one of TIME Magazine’s Best Inventions of 2025. We launched breakthrough pilot programs that validated next-generation HVAC and controls technologies, and we partnered with trade schools to help grow the clean energy workforce.
We also expanded our portfolio into new industries, including manufacturing with The Gilman Brothers Company and OEM Controls in Connecticut.
Finally, we’ve been recognized by several prestigious award programs. We’ve been on the Inc. 5000 list five years in a row as one of the fastest-growing companies in the U.S. In March, Fast Company named us the #2 most innovative energy company in the world. Also this year, our CEO, Al Subbloie, was named to the TIME100 Climate list for the most influential global leaders.
Funding
When asking Eigbobo about the company’s funding, he revealed:
“We have raised over $1B in capital to date, and have more than 8,000 customer sites nationwide.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Eigbobo assessed:
“We estimate our total addressable market to be $60 billion across a wide range of commercial properties.”
Differentiation From The Competition
What differentiates the company from its competition? Eigbobo concluded:
“Budderfly is different because we take full ownership of our customers’ energy outcomes. Unlike others in the space that provide isolated solutions, we manage the entire process under a single 10-year contract. We take over their entire utility bill and are committed to delivering energy savings.”
“We are responsible for technology installation, regular maintenance, performance measurement, and optimization. We have a team of in-house experts who develop innovative solutions to meet the diverse needs of our customers. Most companies offer components of the solution, leaving the complexity to the customer. Budderfly manages everything—we provide a comprehensive, end-to-end solution.”
