Austin Startup Base Power Raises $1B, Expands Grid Support
Austin-based Base Power, a residential battery company, has raised $1 billion in funding, bringing its valuation to $13 billion. The investment will aid national expansion and hiring. Base Power's grid-strengthening batteries are available in Texas and Illinois, with plans to expand further.
Key points
- Base Power, a residential battery company, raised $1 billion in funding, increasing its valuation to $13 billion.
- The investment will support national expansion and hiring for the Austin-based startup.
- Base Power's grid-strengthening batteries, now available in Texas and Illinois, aim to strengthen the power grid and lower electrical bills.
- Retired NFL player J.J. Watt contributed to the funding round, citing Base Power's impact on Texans' power bills and grid resilience.
- Base Power powers over 30,000 homes in Texas and recently expanded to Illinois, with plans for further growth.
Austin Startup Base Power Raises $1B, Expands Grid Support
Austin-based Base Power, a residential battery company, has secured $1 billion in funding, increasing its valuation to $13 billion. The investment will support national expansion and hiring for the startup.
Base Power's grid-strengthening batteries, now available in Texas and Illinois, aim to strengthen the power grid and lower electrical bills. The company powers over 30,000 homes in Texas, including the Houston area, and recently expanded to Illinois.
Retired NFL player J.J. Watt contributed to the funding round, citing Base Power's impact on Texans' power bills and grid resilience. According to Watt, Base Power has already saved Texans millions on their power bills and kept thousands of homes running during outages.
The funding will enable Base Power to expand its operations and hire more staff, solidifying its position in the energy sector.
Sources
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