Texas-based home energy and battery storage firm Base Power, co-founded in 2023 by Justin Lopas and Zach Dell, announced a $1 billion Series D round with a $13 billion post-money valuation and rolled out its U.S.-manufactured Base Core home battery (39.2/78.4 kWh, one of the largest residential storage systems) that delivers household backup power and augments grid capacity amid surging U.S. energy demand unable to be met by conventional power generation; led by Ribbit, Addition, Valor Equity Partners and JPMorgan Chase’s Strategic Investment Group, the financing drew participation from multiple new investors and reinvestment from existing backers, and the proceeds will fund wider Base Core deployment, national expansion and team growth, with CEO Zach Dell highlighting the product’s fast installation, seamless outage switchover, extreme weather resistance and affordable price, while JPMorgan Chase noted the firm’s distributed energy solutions will upgrade grids and build a more reliable power system.
Source: https://www.esgtoday.com/home-battery-startup-base-power-raises-1-billion-at-13-billion-valuation/