BASE BRINGS RELIABLE AND AFFORDABLE POWER TO TEXANS
We need a lot more reliable, affordable, and abundant energy. Base’s solution is to build the world’s largest battery farm by giving consumers a free home battery and using it to energy trade on the grid when it’s not being used for backup.
In recent decades, renewables like solar and wind have overtaken fossil fuels as the world’s most scalable and affordable sources of power, but wind and solar only work when the wind is blowing and the sun is shining. Meanwhile, we’re experiencing a rapid growth in demand for electricity from electric cars, the electrification of industry, and data centers driven by AI.
Currently, much of the power generated by solar and wind is wasted because supply and demand don’t match up. Batteries solve this problem by storing renewables while they are abundant and cheap, then deploying them when needed. But we don’t have nearly enough batteries and those we do have fall short. Grid-scale batteries, which make up around 99% of storage on the grid today, are limited by yearslong interconnect queues and distance to consumption. Typical home batteries come with high costs, long payback periods, and sometimes require pairing with solar.
Texans understand the need for battery backup better than most after experiencing record-breaking outages due to extreme weather events. That’s why Base Power Company has launched in the Lone Star State to bring residential energy storage and backup power to those who can’t afford a $20,000+ battery or generator setup.
Base takes a first-of-its-kind approach to residential batteries
Base offers a dramatically cheaper backup power solution, charging customers only $2,000 for installation. In exchange, Base owns and operates the battery and uses it to support the grid through energy trading–charging the battery up when demand is low and selling back to the grid when demand is high. When the grid goes down, customers enjoy battery backup in their homes. This allows Base to get storage up and running in a matter of weeks versus years for traditional storage developers, and to do it at scale.
Base is the first 21st century power company in an industry that is stuck in the 19th century. The team has woven together a number of business models to achieve something greater than the sum of its parts. This includes becoming a Retail Electricity Provider (REP), maintaining ownership of their batteries, and turning their batteries into revenue generators through energy trading. Base offers a clear, no-brainer value prop to customers: free backup power and a more streamlined, modern experience dealing with their energy provider. Base is the only energy provider to offer customers a home battery, monthly energy service, and installation all-in-one, with no requirement of solar.
Base is a true next-generation power provider bringing reliable, affordable, and abundant power to homes and ultimately the broader power grid.
Meet the founders
Cofounder Zach Dell, formerly at Thrive Capital, and cofounder Justin Lopas, former Head of Manufacturing at Anduril and Lead Engineer at SpaceX, are generational founders with top-notch industry expertise and a knack for identifying and recruiting unrivaled talent to build a world-class team.
Read more in their recent exclusive with Bloomberg.
What’s next for Base?
The product is live and the team is enrolling customers, installing batteries, and supporting customers through outages. Their goal is to scale 1GW of power in behind-the-meter battery storage. Trust Ventures is proud to support Base as they navigate local permitting and outdated regulations that don’t allow for new technology and business models. We’re thrilled with the amount of progress the team has made and we know they are just getting started.
Want to help Base? If you live in Texas, join Base’s waitlist. Want to help build the power company of the future? Explore Base’s open roles.
About Trust Ventures
We’re a venture capital fund focused on removing barriers that keep innovators and entrepreneurs from bringing life-changing ideas to market that can transform some of the largest industries and solve massive social challenges. We help our portfolio companies address outdated and incumbent-driven regulatory barriers. Through our work we’ve helped our portfolio companies secure unprecedented regulatory clearances and change state and federal laws, unlocking access to their innovations for hundreds of millions of Americans.
Watch our video or visit our website to learn more.
