Base Power Secures $1 Billion Series C, Launches Austin Factory for Energy Storage Production

Austin, TX – Base Power Company, an energy firm co-founded by Justin Lopas and Zach Dell, has announced a significant milestone with a $1 billion Series C financing round and the inauguration of its first energy storage and power electronics factory in Austin, Texas. The company, which provides home battery systems for backup power and grid stabilization, emphasized its commitment to domestic manufacturing with the new facility.

Justin Lopas, Co-founder and COO of Base Power, highlighted the local production efforts, stating, "Designed and built in Austin, TX," a sentiment echoed in a recent social media post. This new factory, located at the site of the former Austin American-Statesman printing press, is poised to meet the escalating demand for Base Power’s innovative solutions and support its planned national expansion.

The substantial Series C funding was led by Addition, with continued investment from major backers including Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, and Andreessen Horowitz. This latest round follows a previous $200 million Series B, underscoring strong investor confidence in Base Power's mission to enhance grid reliability and affordability. The company has rapidly deployed over 100 MWh of residential battery capacity in under two years.

Base Power differentiates itself by offering an all-in-one energy plan where it owns and manages the home battery systems, providing a service model rather than outright sales. This approach allows the company to coordinate a network of distributed storage technology, acting as a virtual power plant to stabilize the grid and offer customers reliable backup power. The company has expanded its services across the Dallas–Fort Worth metroplex, Greater Houston, and the Austin region.

Lopas further articulated the strategic importance of the Austin factory, noting, "We’re building domestic manufacturing capacity for fixing the grid. The only way to add capacity to the grid is physically deploying hardware, and we need to make that here in the U.S., ourselves." This initiative aims to reindustrialize America and reinvent the energy grid by focusing on local production of critical energy infrastructure.