• Base Power raised $1 billion at a $13 billion valuation, bringing its total capital raised to more than $2.5 billion.
• Its new U.S.-built Base Core battery offers 39.2 kWh or 78.4 kWh of capacity and can be installed in under one hour.
• The company has deployed a battery fleet exceeding 500 MWh and secured utility partnerships representing more than 200 MW.

Base Power has raised $1 billion to expand its distributed energy platform across the United States, as rising electricity demand puts growing pressure on the country’s power system.

The Series D financing values the home battery and energy services company at $13 billion. Base announced the funding alongside the launch of Base Core, a residential battery designed to protect homes during outages while providing additional capacity to the grid.

The battery is now in production at Base Factory 1 in Austin, Texas. The company said the new funding will support national expansion, customer installations and hiring.

Base has now raised more than $2.5 billion in capital.

A grid-focused battery built in Austin

Base Core is available in 39.2 kWh and 78.4 kWh configurations. That places it among the largest residential battery systems currently being brought to market.

Unlike many home batteries primarily designed for individual energy independence, Base Core was developed to operate as part of a wider distributed power network. Aggregated systems can provide capacity where the grid faces constraints, while also supplying backup electricity to households.

“We brought together the best hardware and software engineers in the world to build Core – a battery designed to protect American homes while supporting the grid,” said Zach Dell, CEO and co-founder of Base Power. “It installs in under an hour, switches over seamlessly, is built to handle extreme weather, and delivers extended outage protection at a price Americans can afford.”

The company is positioning rapid installation as a central part of its expansion strategy. Long installation timelines, permitting requirements and high upfront costs have slowed residential battery adoption in many markets.

Base said its Austin factory is producing thousands of systems each month. The company has also developed an installation model intended to support deployment across a growing geographic footprint.

“It is so important to bring manufacturing back to the US, especially for critical infrastructure,” said Justin Lopas, COO & Co-Founder. “Base’s Factory 1 is now producing thousands of systems a month, while our deployment team enables the safe, efficient installation of them on homes throughout Texas and beyond.”

Investors target grid capacity growth

The Series D was led by Ribbit, Addition, Valor Equity Partners and JPMorganChase’s Strategic Investment Group. The latter forms part of the bank’s Security and Resiliency Initiative.

Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global and Energy Impact Partners also participated. Existing investors included Thrive Capital, Andreessen Horowitz, Lightspeed, Trust Ventures and CapitalG.

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The investor group reflects growing financial interest in technologies that can address power shortages without waiting for large generation and transmission projects.

“Since our initial investment, the Base team has executed on an ambitious plan to become America’s Power Company. Power demand has surged in that time, and Base has emerged as one of the fastest and most cost effective ways to add capacity to the grid. We’re proud to continue backing this team and this mission so more Americans can enjoy the peace of mind of affordable & reliable power,” said Antonio Gracias, Founder, CEO and CIO of Valor Equity Partners.

U.S. electricity demand is being reshaped by data centres, advanced manufacturing, electrification and population growth. Utilities must meet that demand while replacing ageing infrastructure and improving resilience against extreme weather.

Distributed batteries can provide a faster route to incremental capacity. However, their value depends on utility integration, customer participation and clear rules governing grid services.

Utility partnerships support expansion

Base has expanded its battery fleet to more than 500 MWh and moved beyond Texas into Illinois. It has also established partnerships with El Paso Electric, Austin Energy and CoServ.

Together, its utility partnerships cover more than 200 MW of capacity.

“Through the Strategic Investment Group, part of Security and Resiliency Initiative, we’re investing in companies that are strengthening the infrastructure underpinning our economy and advancing the technologies needed to meet growing energy demand,” said Todd Combs, Head of the Strategic Investment Group for JPMorganChase’s Security and Resiliency Initiative. “JPMorganChase is proud to support Base Power as it modernizes the grid through distributed energy solutions that enhance reliability, expand capacity and help build a more resilient and secure power system for the future.”

For utilities, the model could create a flexible alternative to conventional infrastructure investment. For investors, it offers exposure to both residential energy resilience and the wider grid capacity market.

Base must now demonstrate that its manufacturing, installation and utility coordination systems can scale nationally. Its progress will be closely watched as the United States searches for faster ways to strengthen electricity reliability and support its expanding digital and industrial economy.