Household-battery startup Base Power Inc. raised $1 billion to expand its energy-storage business and build a manufacturing plant in Texas.

The Series C funding round led by venture capital firm Addition included other existing investors such as Lightspeed Venture Partners, Andreessen Horowitz and Altimeter, the company said in a statement Wednesday. Base Power, co-founded by entrepreneur Zach Dell, will use the proceeds to boost energy-storage production.

“We’re building domestic manufacturing capacity for fixing the grid,” Chief Operating Officer Justin Lopas said. “This factory in Austin is our first, and we’re already planning for our second.”

Battery companies are expanding in the U.S. as the need to support the nation’s aging power grid grows amid rising electricity demand from data centers and widening electrification of the economy.

Base installs residential backup power systems at a fraction of the cost of traditional natural gas- or propane-fueled generators. Under Dell’s business model, the batteries are charged when local electricity prices are low.

But during high-demand periods, such as heat waves or cold snaps, Base can tap a portion of those stored electrons to capture price differentials while ensuring each homeowner retains ample spare electricity to avoid power blips or blackouts.

The new facility will enable Base to “build our own hardware to meet surging demand and scale nationwide,” Dell wrote in a post on X. “This is a key step in putting a battery on every home in the country.”

(Updates with co-founder’s comment in final paragraph.)

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