Reported about 8 hours ago
Base Power, an Austin-based startup, has raised $1 billion in a Series C funding round to accelerate the deployment of home battery storage systems, following its success in Texas. The company has sold over 100 megawatt-hours of its batteries since its inception in 2023, providing a cost-effective leasing model that reduces upfront costs for homeowners. With plans for expansion beyond Texas and a second battery factory, Base Power aims to leverage the state's deregulated utility market to enhance grid reliability by allowing customers to sell surplus electricity back to the grid.
Source: YAHOO