US energy technology company Base Power has announced a $1 billion Series D funding round at a $13 billion post-money valuation, alongside the launch of Base Core, a home battery system designed to support grid stability.
The financing was co-led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase’s Strategic Investment Group—part of the firm’s Security and Resiliency Initiative—with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners. Existing investors, including Thrive Capital, Andreessen Horowitz (a16z), Lightspeed, Trust Ventures, and CapitalG, also reinvested. The latest round brings the firm’s total capital raised to over $2.5 billion.
The newly introduced Base Core battery features storage options of 39.2 kWh and 78.4 kWh, making it one of the largest residential battery systems on the market. Manufactured at Base Factory 1 in Austin, Texas, the system is designed for rapid installation, seamless power transfer during disruptions, and extended outage protection.
Zach Dell, Chief Executive Officer and co-founder of Base Power, stated that the unit was engineered to protect homes while simultaneously providing grid support amidst surging national power demand. Chief Operating Officer and co-founder Justin Lopas highlighted that the Austin facility is currently producing thousands of units monthly to support expanding installations across Texas and additional states.
The launch follows a period of expansion for Base Power, which has grown its battery fleet past 500 MWh and expanded operational reach beyond Texas into Illinois. The company has also established utility partnerships with providers such as El Paso Electric, Austin Energy, and CoServ, representing over 200 MW of capacity.
Base Power plans to direct the new capital toward scaling production of Base Core, expanding its national footprint, and accelerating workforce recruitment.
