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§ Private Profile · Austin, TX, USA
Retail Electric Provider for Texas homeowners. Installs home battery systems, providing energy generation, storage, and grid services.
Based in Austin, Texas, Base Power operates as a retail electric provider that designs and installs residential battery storage systems to supply backup power and arbitrage wholesale electricity prices. The company aggregates its distributed network of home batteries to supply energy back to the broader Texas grid during periods of peak demand, successfully developing more than 100 megawatt-hours of total storage capacity. To support its ongoing infrastructure expansion and local manufacturing efforts, the enterprise has secured over $1.27 billion in total funding, which includes a recent $1 billion Series C financing round. Base Power is currently backed by prominent lead investors such as Thrive Capital, Altimeter Capital, and Valor Equity Partners, while maintaining strategic commercial partnerships with homebuilder Lennar and Bandera Electric Cooperative. The company was founded in 2023 by Zach Dell and Justin Lopas.
Base Power has raised $1.3B across 3 funding rounds.
Base Power has raised $1.3B in total across 3 funding rounds.
Base Power has raised $1.3B across 3 funding rounds. Most recently, it raised $1.0B Series C in October 2025.
Base Power is a technology company building a distributed network of residential batteries to deliver reliable, affordable home energy services while stabilizing the electric grid. It serves Texas homeowners by installing 25-50 kWh batteries at low upfront costs, acting as their Retail Electric Provider (REP) with fixed rates below market averages, automatic outage backup (protecting against 97% of outages), and grid-balancing optimization via proprietary software.[1][2][3][5][7] The company solves grid congestion and reliability issues—exacerbated by peak demand and outages—by charging batteries during low-demand periods (e.g., 4 AM) and discharging during peaks (e.g., 6 PM), enabling power arbitrage, virtual power plant capabilities, and sub-second data advantages over traditional five-minute market delays.[1][3][4] Growth is rapid: incorporated in June 2023, commercial launch in May 2024, now with 100 employees installing 20 systems daily (10 MWh/month), thousands of customers, millions in revenue, and a $200M raise in 2025.[2][6]
Base Power was founded in 2023 by a team of engineers and operators from top technology companies, headquartered in Austin, Texas, targeting Texas' deregulated ERCOT market.[2][6] The idea emerged from grid reliability challenges, particularly outages and peak pricing, with founders leveraging hardware-software expertise to create stackable battery modules integrated with compute for real-time data.[1] Early traction came via Gen 1 batteries in 2024 (off-the-shelf packs with custom compute), followed by Gen 2 (manufacturer-partnered design) later that year, and Gen 3 in 2025 for deeper vertical integration.[1] Pivotal moments include a March 2025 partnership with Bandera Electric Cooperative for "capacity as a service," commercial scaling to 20 installs/day by April 2025, and a $200M investment signaling validation.[4][6]
Base Power rides the electrification and grid modernization trend, fueled by EV adoption, data centers, and renewables intermittency straining U.S. grids—Texas' ERCOT exemplifies this with frequent peaks/outages.[1][4][6] Timing aligns with falling battery costs, deregulated markets like Texas enabling retail choice, and demand for distributed energy resources (DERs) over centralized plants.[3][6] Market forces favoring it include policy support for grid resilience (e.g., ancillary services), cleaner energy mandates, and utilities' peak capacity needs—Base turns homes into virtual power plants, enhancing system efficiency/stability at lower cost.[4][6] It influences the ecosystem by pioneering scalable DERs, partnering with co-ops/utilities, and backward-integrating into generation, potentially disrupting utilities while enabling nationwide expansion beyond Texas.[1][6]
Base Power is positioned to scale into a fully integrated "modern power company," controlling production/storage/distribution via its growing battery fleet—next steps include Gen 3 rollout, Texas dominance (thousands of customers already), and multi-state expansion via utility "capacity as a service" models.[1][4][6] Trends like AI-driven data centers spiking demand, federal grid incentives, and battery price drops will accelerate growth, though regulatory hurdles in non-deregulated markets loom. Its influence could evolve from REP innovator to national utility disruptor, delivering resilient, affordable power at grid scale—transforming homes from consumers to grid assets, much like Base Power redefined energy from the demand side up.[1][6]
Base Power has raised $1.3B in total across 3 funding rounds.
Base Power's investors include Addition, 8090 Industries, 8VC, Afore Capital, Altimeter Capital, Andreessen Horowitz, Contrary Capital, CRV, Dragonfly Capital Partners, DST Global, Felicis Ventures, Founders Fund.