Base Power raises another $1 billion for backyard battery grid solutions
Energy storage startup Base Power has raised an additional $1 billion in a Series D funding round, valuing the company at $13 billion post-money. The firm is deploying home-based batteries to support energy grids under strain from rising electricity demand driven by AI data centers and broader electrification trends. Base Power installs about 100 of its proprietary battery units daily across Texas and Illinois—areas experiencing grid stress, particularly in the PJM region—and plans to double that rate. Its new Base Core model offers up to 39.2 kilowatt-hours per unit, outperforming competitors' offerings. The company differentiates itself by offering a subscription-based pricing model rather than upfront costs and sells stored electricity back during peak demand periods. The funding was led by Ribbit Capital, Addition, Valor Equity Partners, and JPMorganChase’s Strategic Investment Group.
Topics: Energy Storage Grid Technology Renewable Energy Startups