Base Power CEO Zach Dell Announces New Home Battery and $1 Billion Financing Round
Base Power CEO Zach Dell announced the launch of Base Core, a new residential battery system manufactured in Austin, Texas. The battery offers two configurations with storage capacities of 39.2 kWh and 78.4 kWh, positioning it as one of the largest single-cabinet systems on the market. The company also announced the closing of a $1 billion Series D financing round, which brings the company's post-money valuation to $13 billion. This funding will be used to expand production at the Austin factory and grow the company's footprint beyond its current markets in Texas and Illinois. Zach Dell noted that the battery technology serves as the foundation for the company's next phase of growth. The Base Core system is designed for quick installation and can withstand extreme temperatures. Customers in Texas and Illinois can access the battery through unique service agreements, often featuring lower costs than legacy utilities. The company aims to be a leading provider of affordable and reliable power in the global electricity industry.