Base Power raises $1 billion, launches U.S.-made home battery amid surging power demand

Aug. 3 (Reuters) - Energy startup Base Power said on Monday it has raised $1 billion at a $13 billion valuation and launched a U.S.-made home battery as expanding AI and data center infrastructure puts the focus on grid reliability and sends power demand soaring.

U.S. electricity demand — which hit record levels in 2025 — is set to rise further, while increasing AI use is also spurring the need for energy storage as utilities and startups deploy flexible capacity to help stabilize the grid.

• Base Power has raised $2.5 billion capital to date, with funds from the latest round expected to go toward bringing its batteries to more homes, the company said.
• The financing round was led by Ribbit, Addition, Valor Equity Partners and JPMorganChase’s Strategic Investment Group.
• Production of the new home-battery system has begun at Base Power's Austin facility, which is manufacturing thousands of units per month, according to the company.
• The system can be installed in under an hour, withstand extreme weather and provide extended outage protection, it said.
• Battery storage systems are seen as a vital part of efforts to strengthen power grids.
• The company also said it has entered into partnerships with utilities including El Paso Electric, Austin Energy and CoServ, which together represent over 200 megawatts of capacity.
• Base Power has deployed more than 500 megawatt-hours of battery capacity across its fleet, it added.