Base Power
Installs free home batteries that make the power grid more reliable and affordable.
- Founded
- 2023
- Headquarters
- Austin, TX
- Latest Round
- Series C
- Est. Valuation
- ~$4,000M
Investment Thesis
Base Power deploys large home battery systems at no upfront cost, providing whole-home backup while aggregating batteries into a virtual power plant that stabilizes the grid. Also operates as a retail electricity provider in Texas.
Became a unicorn in two years at $4B valuation with its $1B Series C. Building its first in-house battery manufacturing facility in Texas, projecting $70M revenue for 2026.
The U.S. power grid can't keep up with surging demand from AI data centers, EVs, and industrial reshoring — and new power plants take a decade to build while blackouts are becoming routine.
Free home batteries that provide whole-home backup while aggregating into a virtual power plant that stabilizes the grid, replaces peaker plants, and sells power back to utilities.
Grid demand is growing faster than new generation can be built, Texas alone faces critical shortfalls, and battery economics finally enable a no-cost consumer model subsidized by grid services revenue.
Unicorn in two years at $4B valuation with $1.27B raised, projecting $70M revenue for 2026, building its own battery manufacturing facility in Texas to control the supply chain.
Zach Dell (CEO) and Justin Lopas (COO, ex-Anduril) assembled a team of Tesla, SpaceX, and Anduril veterans who know how to manufacture hardware at scale and deploy it fast.