Base Power Raises $1 Billion Series C to Build the Future of American Power

Funding will accelerate nationwide availability of Base’s affordable, reliable power

AUSTIN, Texas--(BUSINESS WIRE)--Base Power announced today it has raised $1 billion in Series C financing, led by Addition. All other major investors are re-investing, including Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury. New major investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.

Power is the foundation of day-to-day life, yet America’s aging grid is strained, unreliable, and increasingly vulnerable. Base is a first-of-its-kind energy company powering America with reliable and affordable electricity. Base delivers for homeowners and for the grid through a network of distributed storage technology.

“The chance to reinvent our power system comes once in a generation,” said Zach Dell, CEO and co-founder of Base Power. “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.”

In less than two years, Base has deployed more than 100 MWh of residential battery capacity. That pace makes it one of the fastest-scaling distributed energy platforms in the U.S., driven by organic growth, partnerships with leading homebuilders like Lennar and with forward-thinking utilities. The company has also rapidly expanded operations, now serving homeowners across the Dallas–Fort Worth metroplex, Greater Houston, and the Austin region, with plans to expand nationally in the near future.

To meet current and future demand, Base is building its first energy storage and power electronics factory at the site of the former Austin American-Statesman printing press in the heart of downtown Austin.

Base recently qualified for Texas’s Aggregated Distributed Energy Resource (ADER) program, which allows distributed batteries to be combined and bid directly into the grid. This participation strengthens reliability statewide and generates additional revenue from the grid, helping Base lower costs for homeowners while proving how distributed assets can operate at utility scale.

“We’re building domestic manufacturing capacity for fixing the grid,” said Justin Lopas, COO and co-founder of Base Power. “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.”

The chance to reinvent America’s power system is here. Apply today at basepowercompany.com/careers.

About Base Power

Founded in 2023 and headquartered in Austin, Texas, Base Power is an energy company building a grid for the future—starting with battery-powered home energy. The company’s mission is to advance human prosperity through energy abundance—delivering reliable and affordable power for all. Learn more at www.basepowercompany.com.