US company Base Power announced it has raised $1bn in Series C financing to enhance its manufacturing capacity and accelerate the deployment of its residential battery network. The round was led by Addition, with continued participation from existing investors including Trust Ventures, Valor Equity Partners and Andreessen Horowitz, and new entrants such as CapitalG, Spark and BOND.
Founded less than two years ago, Base Power reports having deployed more than 100 MWh of battery capacity in residential homes. This volume places the company among the fastest-growing distributed energy platforms in the United States. Its model integrates directly into households while connecting to the national grid, enabling it to meet rising demand and support grid stability.
Industrial expansion and local manufacturing
To support this growth, Base Power plans to build its first energy storage and power electronics manufacturing facility. The selected site is located on the former Austin American-Statesman printing grounds in downtown Austin, Texas. This industrial development marks the beginning of a strategy to reshore production within the United States.
The company is already planning a second production site to match the expected increase in national demand. This manufacturing capacity is intended to physically deliver energy infrastructure, which the company sees as a prerequisite to increasing grid capacity.
Market access and grid integration
Base Power recently joined Texas’s Aggregated Distributed Energy Resource (ADER) programme. This mechanism allows distributed batteries to be pooled and bid directly into the electricity market. It provides an additional source of revenue while enhancing local grid reliability.
Base currently operates in the urban areas of Dallas–Fort Worth, Houston and Austin, with plans for national expansion. The company works with homebuilders such as Lennar and proactive utility providers.
“We are building the infrastructure, tools, software and teams needed to reindustrialise the country and modernise the electric grid,” said Justin Lopas, Chief Operating Officer and co-founder of Base Power.
