Base Power Raises $1 Billion Series D, Launches U.S.-Built Base Core Home Battery to Strengthen Grid Reliability
Base Power has announced a landmark milestone in its growth journey, securing $1 billion in Series D financing at a post-money valuation of $13 billion while simultaneously unveiling Base Core, a next-generation home battery system designed and manufactured in the United States. The funding and product launch underscore the company’s ambition to expand distributed energy storage, strengthen grid reliability, and accelerate the adoption of resilient home energy solutions as electricity demand continues to rise across the country.
The new financing represents one of the largest investments in the distributed energy storage sector and positions Base Power to significantly scale its manufacturing capacity, broaden its geographic footprint, and increase deployment of its battery systems in residential communities nationwide. The company also confirmed that Base Core is now being produced at Base Factory 1 in Austin, Texas, marking an important step in expanding domestic manufacturing of advanced energy technologies.
Addressing America’s Growing Energy Demand
Electricity demand in the United States is increasing at a pace not seen in decades, fueled by rapid economic growth, electrification of transportation, expansion of data centers, industrial development, and the broader transition toward cleaner energy sources. These changes are placing unprecedented pressure on existing electricity infrastructure, requiring utilities and energy providers to identify new methods of increasing grid capacity while maintaining reliability.
Traditional approaches centered solely on constructing large-scale power plants and expanding transmission infrastructure often require years of planning, permitting, and construction. Distributed energy resources such as residential battery storage are increasingly viewed as an effective complement, providing localized capacity while improving resilience during power disruptions.
Base Power believes that home battery systems can become a critical component of future electric grids by supplying backup power for homeowners while simultaneously supporting utility operations during periods of peak demand.
Introducing Base Core
At the center of the company’s announcement is Base Core, a home battery system engineered specifically for both residential energy resilience and grid support. Designed and built entirely in the United States, Base Core represents one of the largest residential battery offerings currently available.
The battery is available in configurations providing 39.2 kilowatt-hours or 78.4 kilowatt-hours of storage capacity, enabling homeowners to maintain electricity during extended outages while allowing utilities to access distributed storage resources that help stabilize the grid.
According to Base Power, Core has been engineered from the ground up with rapid installation and large-scale deployment in mind. The company says the system can typically be installed in less than one hour, minimizing disruption for homeowners while reducing installation costs.
The battery is also designed to provide seamless switchover during power outages, allowing homes to continue operating without noticeable interruptions when grid power is lost. Its rugged design enables operation during severe weather events, offering extended backup protection during hurricanes, winter storms, heat waves, and other emergencies that increasingly threaten electric infrastructure.
Designed for Affordability and Reliability
Base Power emphasizes that affordability has remained a central design objective throughout the development of Base Core. By combining streamlined manufacturing processes with simplified installation procedures, the company aims to make large-capacity residential battery storage accessible to a wider range of homeowners.
Chief Executive Officer and Co-founder Zach Dell said the company assembled leading hardware and software engineering teams to create a battery capable of protecting American homes while simultaneously strengthening the nation’s electric grid.
According to Dell, the product delivers rapid installation, seamless backup capabilities, resilience under extreme weather conditions, and extended outage protection while maintaining a price point intended to encourage broader residential adoption.
This combination of residential backup power and utility grid participation reflects a growing trend toward virtual power plants, where thousands of distributed battery systems work together as a coordinated energy resource.
Building on Rapid Business Growth
The launch of Base Core follows a period of substantial operational expansion for the company. During the past year, Base Power significantly increased the size of its battery fleet, reaching more than 500 megawatt-hours of deployed storage capacity.
The company also expanded beyond its initial Texas market into Illinois, broadening its presence as it prepares for further national growth.
In addition to geographic expansion, Base Power has established partnerships with multiple electric utilities, including El Paso Electric, Austin Energy, and CoServ. Collectively, these collaborations represent more than 200 megawatts of grid capacity supported through distributed battery resources.
These partnerships demonstrate increasing utility interest in residential battery systems as flexible grid assets capable of improving reliability while reducing strain during periods of high electricity demand.
Expanding Domestic Manufacturing
Manufacturing represents another major component of Base Power’s long-term strategy. The company says Base Factory 1 in Austin is now producing thousands of battery systems each month, creating a domestic supply chain for critical energy infrastructure.
Chief Operating Officer and Co-founder Justin Lopas highlighted the importance of rebuilding advanced manufacturing capabilities within the United States, particularly for technologies considered essential to national infrastructure and energy security.
According to Lopas, the company’s manufacturing facility has achieved production levels capable of supporting rapid market expansion while dedicated deployment teams ensure efficient and safe installation of systems across Texas and additional markets.
Domestic production also reduces dependence on overseas manufacturing while helping shorten supply chains and improve delivery timelines.
Strong Investor Support
The Series D financing attracted participation from a diverse group of leading investment firms, reflecting strong confidence in Base Power’s business model and long-term growth strategy.
The investment round was led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase’s Strategic Investment Group, which operates as part of the firm’s Security and Resiliency Initiative.
Additional participation came from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners.
The financing also included continued support from several of the company’s existing investors, including Thrive Capital, Andreessen Horowitz (a16z), Lightspeed, Trust Ventures, CapitalG, and other institutional backers that have supported Base Power’s earlier growth stages.
The continued participation of both existing and new investors signals broad confidence in distributed energy storage as a rapidly expanding sector within the broader energy transition.
Investor Confidence in the Company’s Vision
Antonio Gracias, Founder, Chief Executive Officer, and Chief Investment Officer of Valor Equity Partners, praised the company’s execution since Valor’s initial investment.
He noted that electricity demand has accelerated significantly during Base Power’s growth period, creating greater urgency for scalable solutions capable of adding capacity to the electric grid quickly and economically.
According to Gracias, Base has emerged as one of the fastest and most cost-effective approaches for increasing available grid capacity while simultaneously improving affordability and reliability for homeowners. He emphasized Valor’s continued commitment to supporting the company’s mission of delivering dependable electricity solutions to more American households.
Supporting National Infrastructure Resilience
JPMorganChase also highlighted the strategic importance of the investment through its Security and Resiliency Initiative.
Todd Combs, Head of the Strategic Investment Group, stated that the organization focuses on investing in companies strengthening the infrastructure supporting the American economy while advancing technologies needed to address growing electricity demand.
Combs said Base Power’s distributed energy platform contributes to modernizing the electric grid by improving reliability, expanding available capacity, and supporting development of a more resilient and secure power system for the future.
The participation of a major financial institution reflects growing recognition that distributed energy technologies are becoming an increasingly important element of national infrastructure investment.
Funding Future Expansion
With the completion of the Series D financing, Base Power has now raised more than $2.5 billion in total capital since its founding.
The company plans to use the newly secured funding to accelerate production of Base Core, expand deployment into additional U.S. markets, strengthen manufacturing capabilities, invest in product innovation, and recruit additional engineering, manufacturing, and operational talent.
National expansion remains a key priority as demand continues to increase for residential battery storage solutions capable of delivering both household energy security and valuable grid services.
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