Base Power

Base Power is an Austin-based retail electricity provider that pairs home service plans with a large battery installed at each customer's home, using that networked fleet to back up individual homes during outages and to feed capacity back into the grid when demand spikes. Founded in 2023 by Zach Dell, son of billionaire computer pioneer Michael Dell, and Justin Lopas, Base Power installs and maintains large capacity home batteries which can serve as backup power if the main grid goes down. Lopas is a former SpaceX and Anduril manufacturing leader, while Dell began his career at Blackstone and Thrive Capital. This launch marks the debut of Base Core, the company's own hardware, alongside a major financing round. Base Power is announcing a $1 billion Series D financing at a $13 billion post-money valuation, alongside the launch of Base Core: a home battery designed from the ground up to support the grid, now in production at Base Factory 1 in Austin. The battery is available in configurations offering 39.2 kilowatt-hours or 78.4 kilowatt-hours of storage , and homeowners aren't buying a 39.2 kWh system outright. Instead, they sign up for a Base plan, and the company uses the networked batteries to supply power to the grid when demand and wholesale prices spike. The timing matters because U.S. electricity demand is rising faster than utilities can build new generation, and distributed storage lets Base add capacity in weeks rather than years. Base Core is currently available in Texas and Illinois, with 39.2 kWh in every unit, making it one of the largest home batteries available. Approximate backup duration runs 36 to 72 hours with one to two batteries. For founders, investors, and operators tracking the intersection of hardware manufacturing and energy retail, this launch is worth noting as a vertically integrated bet: Base designs the battery, builds it domestically, installs and owns it, and sells the electricity plan on top.