Austin-based energy startup Base Power has raised $1 billion in a Series C funding round led by Addition, with participation from CapitalG, Lightspeed, Ribbit Capital, Thrive Capital, Valor Equity Partners, and Elad Gil.
The company is now valued at $3 billion pre-money, up from $200 million in its previous funding round in April. Founded in 2023 by CEO Zach Dell and COO Justin Lopas, Base Power aims to revolutionize home energy storage and management.
The company combines large-capacity batteries with AI-powered energy management systems. Its solutions provide backup power for households while participating in electricity markets where regulations allow surplus energy to be sold back to the grid.
Affordable, AI-Driven Home Battery Systems
Base Power offers home battery systems with capacities of 25 kWh and 50 kWh. Customers pay an upfront fee ranging from $695 to $995, plus a monthly membership fee of $19 or $29, and a three-year electricity contract at 8.5 cents per kilowatt-hour plus delivery fees.
These systems provide backup power during outages and can also participate in electricity markets where regulations permit surplus energy to be sold back to the grid.
The company’s AI-powered energy management system optimizes battery usage by learning household energy consumption patterns. It charges batteries during off-peak hours and discharges them during peak demand, reducing electricity costs for homeowners and contributing to grid stability. This will allow Base Power to offer affordable energy solutions while supporting the broader electricity network.
From Texas Homes to National Expansion
Since its inception, Base Power has sold over 100 megawatt-hours of storage in Texas. Its batteries can power homes for up to 48 hours, surpassing the capacity of many competitors. The company has established its first manufacturing facility near Austin and plans to build a second to meet growing demand.
Texas’ deregulated electricity market has been central to Base Power’s growth. Homeowners agree to let the company dispatch energy to the grid when the battery is not needed for backup. This arrangement generates revenue while keeping homes powered during outages.
The integration of AI into Base Power’s systems enhances this model by predicting energy consumption patterns and adjusting battery usage accordingly, maximizing efficiency and minimizing costs for homeowners.
The Series C funding will accelerate Base Power’s national expansion, enabling the company to deploy its home battery systems in other deregulated electricity markets across the United States.
The company’s operational model integrates household energy needs with grid participation, creating a dual-use system that benefits both homeowners and the electricity network.
Power, Precision, and Leadership
Base Power’s leadership emphasizes the combination of household energy security with broader energy management. Co-founder Zach Dell remarked, “Our approach reduces the upfront cost of battery storage while supporting grid stability.” The team manages installation, monitoring, and maintenance, removing technical barriers for customers.
The company’s commitment to innovation is evident in its partnerships and technological advancements. In collaboration with the Guadalupe Valley Electric Cooperative (GVEC), Base Power is developing a 2-megawatt virtual power plant (VPP) in South Central Texas.
This VPP will allow residential batteries to provide backup power during blackouts while enabling GVEC to offer ancillary services and manage transmission costs.
Base Power’s operational model balances household reliability with grid contributions, establishing the company as a leading provider of home battery solutions in the United States. With plans for further expansion and continued innovation, Base Power is poised to play a significant role in the future of energy management.
