Base Power has announced a $1 billion Series C funding round, marking one of the most significant private investments in the energy sector this year. The round was led by Addition, with participation from returning investors including Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury. New backers joining the round include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.
The funding will accelerate Base Power’s mission to modernize the U.S. energy system and make affordable, reliable power available to households nationwide.
As the country faces mounting challenges from an aging and unreliable electric grid, Base Power aims to reshape how Americans generate, store, and access electricity. The company operates a distributed energy platform that uses advanced storage technologies to supply dependable, low-cost power both to individual homes and the grid at large.
Since its founding in 2023, Base Power has quickly expanded its footprint, deploying more than 100 megawatt-hours (MWh) of residential battery capacity in less than two years. That achievement positions Base among the fastest-scaling distributed energy platforms in the United States.
The company’s growth has been driven by strong consumer demand, strategic partnerships with homebuilders like Lennar, and collaborations with progressive utilities. Base Power currently serves customers across Dallas–Fort Worth, Houston, and Austin, with plans to expand across the country.
To meet surging demand, Base is building its first U.S. manufacturing facility in downtown Austin at the site of the former Austin American-Statesman printing press. The plant will produce energy storage and power electronics equipment, marking a major investment in domestic manufacturing capacity.
Base Power also recently qualified for Texas’s Aggregated Distributed Energy Resource (ADER) program, which enables distributed batteries to be combined and bid directly into the state’s power grid. This innovation strengthens statewide grid reliability and generates new revenue streams, helping Base reduce electricity costs for homeowners while demonstrating that distributed energy assets can perform effectively at utility scale.
How the funding will be used: The company plans to continue expanding its infrastructure and workforce to meet growing nationwide energy needs. With this funding, Base Power aims to accelerate deployment, increase U.S.-based manufacturing, and scale production of its distributed storage systems — critical steps toward what the company describes as a new era of “energy abundance.”
KEY QUOTES:
“The chance to reinvent our power system comes once in a generation. The challenge ahead requires the best engineers and operators to solve it and we’re scaling the team to make our abundant energy future a reality.” Zach Dell, CEO and Co-founder, Base Power
“We’re building domestic manufacturing capacity for fixing the grid. The only way to add capacity to the grid is physically deploying hardware, and we need to make that here in the U.S., ourselves. This factory in Austin is our first, and we’re already planning for our second. We’re building the infrastructure, systems, tools, processes, supporting software, and team that’s reindustrializing America and reinventing the grid.”
Justin Lopas, COO and Co-founder, Base Power
