Base Power
Category: AI in Climate / Energy
Austin-based home battery energy storage company that leases residential batteries and aggregates them into a virtual power plant, providing affordable, reliable whole-home backup power. Base Power was founded in 2023. The company is led by Zach Dell. Based in Austin, Texas, USA. Team size: 500+. Total funding raised: $2.5B. Latest round: Series D. Key investors include Ribbit Capital, Addition, Valor Equity Partners, JPMorganChase Strategic Investment Group, Thrive Capital, Andreessen Horowitz (a16z), Lightspeed, CapitalG, Trust Ventures, Altimeter, Terrain, StepStone.
- Founded
- 2023
- Headquarters
- Austin, Texas, USA
- Team size
- 500+
- Total funding
- $2.5B
Value proposition
Affordable, reliable whole-home backup power with fixed low electricity rates — Base owns the battery, charges a low install fee ($695-$995) plus a monthly rate, and aggregates the fleet into a virtual power plant that arbitrages ERCOT price spreads and sells ancillary services.
Products and solutions
Base Core (largest standalone home battery on the market at 40/80 kWh with 20 kW inverter, US-built at Factory 1 in Austin), Base Pace, retail electricity service (Base Texas REP), virtual power plant (VPP) aggregating distributed residential battery fleet, Base app/dashboard for energy management.
Unique value
Vertically integrated home energy service: designs and builds its own battery, inverter, and disconnect box in-house (US/Mexico supply chain), writes its own manufacturing execution software, and runs its own delivery/install logistics — the "modern power company built for the electric era."
Target customer
Residential homeowners in deregulated electricity markets (Texas — Austin, Houston, Dallas-Fort Worth; Illinois — Chicago area live), plus utility/coop partners seeking virtual power plant / distributed storage capacity (e.g. CoServ, Austin Energy, El Paso Electric, Bandera, GVEC, Farmers); Colorado battery equipment/install only.
Industries served
Residential energy storage, retail electricity, virtual power plants, grid services
Technology advantage
Vertically integrated hardware+software: in-house battery/inverter/disconnect design, proprietary manufacturing execution software, robotic assembly line at Factory 1 (4,000 units/week target, 100+ installs/day), and a fleet-aggregation VPP that arbitrages ERCOT price spreads and sells ancillary grid services. Base Core is 3x larger than typical home batteries.
How they differentiate
Unlike Tesla/FranklinWH which sell hardware, Base owns the batteries and sells energy as a service with fixed low rates, vertically integrating manufacturing (US-built Base Core), software, and installation while aggregating the fleet into a VPP that monetizes grid arbitrage.
Main competitors
Tesla (Powerwall + Tesla Electric VPP), FranklinWH (aPower home battery), Enphase (IQ Battery)
Key partnerships
Lennar (homebuilder distribution), Bandera Electric Cooperative (first utility partnership), GVEC (2-MW Texas VPP), El Paso Electric (residential DES pilot / VPP), CoServ / Denton County EC (100 MW residential storage — largest utility deal), Austin Energy (home backup program), Farmers Electric Cooperative (home battery backup), registered REP with Texas PUCT (#10338) and Illinois ICC (#26-0121)
Notable customers
30,000+ residential homes across Texas and Illinois (Austin, Houston, Dallas-Fort Worth, Chicago area), utility/coop partners: Bandera Electric Cooperative, GVEC, El Paso Electric, CoServ, Austin Energy, Farmers Electric Cooperative
Major milestones
Founded 2023, $68M Series A (May 2024), $200M Series B co-led by Addition/a16z/Lightspeed/Valor (Apr 2025), $1B Series C led by Addition at ~$4B valuation (Oct 2025), CoServ 100 MW residential storage partnership (Mar 2026), Illinois market live / ICC REP license, launched Factory 1 in Austin and Base Core (40/80 kWh US-built) (Aug 2026), $1B Series D at $13B valuation; 30,000+ homes powered (Aug 2026)
Growth metrics
30,000+ homes powered (official); 100+ installs/day; fleet capacity past 500 MWh; targeting 4,000 units/week by end of 2026; 600+ team members; 100% US and Mexico supply chain.
Market positioning
Fast-scaling, heavily capitalized ($2.5B+ raised, $13B valuation) vertically integrated home battery + VPP player in deregulated retail electricity markets, positioned as the "modern power company" taking on Tesla Powerwall and traditional utilities.
Geographic focus
Texas (ERCOT) primary; Illinois live (Chicago area); Colorado battery equipment/install only (not full REP); national expansion planned
Patents and IP
Base Power, Base Pace, and Base logo are trademarks of Base Power Company. Battery systems certified under UL 1973, UL 1741, UL 9540, and UL 9540A.
About Zach Dell
Ex-Blackstone Private Equity Analyst (underwrote energy deals incl. lithium mining); Ex-Thrive Capital Investor; Founder of Sqwatt. University of Pennsylvania (2015-2019). Son of Michael Dell.
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Official website: https://www.basepowercompany.com/