Base Power has raised $1 billion to scale a large home battery designed to do more than keep houses running during outages. Its new Base Core is built to store electricity at homes and feed power back to the grid when needed.
The Austin-based energy company said the Series D financing values it at $13 billion after the investment. Alongside the funding, Base has started production of Core at its first factory in Austin, where the company says it is already making thousands of battery systems each month.
Core comes in 39.2 kWh and 78.4 kWh versions, putting it among the larger home battery systems available. Base designed the system to be installed quickly, switch to backup power automatically, and operate through extreme weather…