Austin-based clean energy startup Base Power has announced a landmark $1 billion Series C funding round to accelerate the deployment of its home-based energy storage network across the United States. The round marks one of the largest financings to date for a distributed energy company, underscoring growing investor confidence in decentralized power systems as key enablers of America’s energy transition. Founded in 2023 by Zach Dell and Justin Lopas, Base Power aims to strengthen the grid and enable large-scale electrification through affordable and reliable distributed storage. The company’s model connects thousands of home-installed batteries into an intelligent, flexible power network that not only supports households during outages but also provides crucial capacity to grid operators during periods of high demand.

Reimagining the Grid from the Ground Up

Base Power’s home energy service allows customers to store and draw on power during outages, while the same network of distributed batteries supplies energy back to the grid when demand peaks. In return, grid operators compensate Base Power for these power contributions, and the company shares the payments with homeowners, helping offset their energy bills. This dual benefit resilience for households and flexibility for utilities has positioned Base Power as one of the most innovative energy storage providers in the U.S. In less than two years, the company has already deployed over 100 megawatt-hours of residential storage, placing it among the fastest-growing distributed energy providers nationwide. The new funding will enable Base Power to dramatically expand its network, build new manufacturing capacity, and scale operations to additional states.

“We are building domestic manufacturing capacity for fixing the grid,” said Justin Lopas, Base Power’s Co-Founder and COO. “The only way to add capacity to the grid is by physically deploying hardware, and we need to make that here in the U.S. ourselves. We’re constructing the infrastructure, systems, and technology that will reindustrialize America and reinvent the grid.”

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National Expansion and Local Roots

Currently serving homeowners across Dallas–Fort Worth, Houston, and Austin, Base Power plans to expand its operations nationwide in 2026. The company is also investing in a state-of-the-art manufacturing and assembly facility for energy storage systems and power electronics on the site of the former Austin American-Statesman campus downtown. The new facility will serve as both a production hub and a research center for next-generation energy storage technologies. Base Power has also been approved for participation in Texas’s Aggregated Distributed Energy Resource (ADER) program, which allows networks of small-scale home batteries to operate directly within the state’s competitive power market. Through this initiative, Base Power will integrate thousands of residential units into a virtual power plant, boosting grid reliability, cutting costs for consumers, and creating a scalable blueprint for grid modernization across the country.

Investor Confidence and Industry Momentum

The $1 billion Series C was led by Addition, with continued support from existing backers Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed Venture Partners, and Andreessen Horowitz. The round also saw participation from several new high-profile investors, including CapitalG (Alphabet’s growth fund), Ribbit Capital, BOND, Lowercarbon Capital, and Spark Capital. This diverse investor base reflects a growing recognition of the potential for distributed storage to reshape energy systems. Venture interest in decentralized infrastructure has surged as utilities and regulators seek solutions for balancing renewable intermittency, managing peak demand, and strengthening resilience against extreme weather events. For investors, Base Power’s business model combining hardware manufacturing, grid participation, and shared financial benefits with consumers represents a new generation of clean energy innovation that can operate profitably at scale.

A Step Toward Reindustrialization and Energy Independence

Base Power’s leadership emphasizes that its mission goes beyond grid stability, it’s about rebuilding domestic manufacturing and securing American energy independence. By producing batteries, inverters, and other core components domestically, the company aligns with the federal government’s push to localize clean energy supply chains and reduce reliance on foreign imports.

“Home batteries are not just backup systems, they are the building blocks of a modernized grid,” said CEO Zach Dell. “We’re creating a system where energy can move flexibly, where customers become participants rather than passive consumers, and where every home becomes a power plant contributing to a more reliable, affordable, and sustainable energy future.”

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Redefining the Future of Home Energy

As electrification accelerates and renewables expand, the need for decentralized grid stability has never been more critical. Base Power’s distributed approach complements broader energy storage trends in the U.S., which saw over 8 GW of new capacity added in 2024 alone, with residential systems accounting for a record share of growth. By combining technology innovation, local manufacturing, and community engagement, Base Power is positioning itself at the center of a new energy paradigm, one that merges climate goals with economic revitalization. The latest funding round not only gives the company the capital to expand but also signals a deeper transformation underway in how America produces, distributes, and manages electricity. Base Power’s next phase of growth could define the blueprint for the next generation of decentralized, consumer-driven energy networks, a grid powered not from the top down, but from the home outward.

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