Energy startup Base Power has raised $1 billion in fresh funding at a valuation of $13 billion and introduced a U.S.-made home battery system as rising electricity demand and the rapid expansion of artificial intelligence infrastructure intensify concerns over grid reliability. The company said the latest investment will help expand battery deployment across American households, bringing its total capital raised to $2.5 billion.
The financing round was led by Ribbit, Addition, Valor Equity Partners and JPMorganChase’s Strategic Investment Group. Production of the new battery system has already begun at Base Power’s manufacturing facility in Austin, Texas, where thousands of units are being produced each month. According to the company, the batteries can be installed in less than an hour, withstand extreme weather conditions and provide extended backup power during outages.
As electricity demand in the United States continues to surge, driven in part by the growth of AI and data centers, battery storage is becoming increasingly important for grid stability. Base Power said it has partnered with utilities such as El Paso Electric, Austin Energy and CoServ, representing more than 200 megawatts of capacity. The company added that it has already deployed over 500 megawatt-hours of battery storage across its network.
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