Texas-based energy startup raises $1 billion on heels of Houston expansion

Powering Up

Base Power co-founders Justin Lopas and Zach Dell. Courtesy photo

Austin-based startup Base Power, which offers battery-supported energy in the Houston area and other regions, has raised $1 billion in series C funding—making it one of the largest venture capital deals this year in the U.S.

VC firm Addition led the $1 billion round. All of Base Power’s existing major investors also participated, including Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed Venture Partners, Andreessen Horowitz (a16z), Altimeter, StepStone Group, 137 Ventures, Terrain, Waybury Capital, and entrepreneur Elad Gil. New investors include Ribbit Capital, Google-backed CapitalG, Spark Capital, Bond, Lowercarbon Capital, Avenir Growth Capital, Glade Brook Capital Partners, Positive Sum and 1789 Capital Management.

Coupled with the new $1 billion round, Base Power has hauled in more than $1.27 billion in funding since it was founded in 2023.

Base Power supplies power to homeowners and the electric grid through a distributed storage network.

“The chance to reinvent our power system comes once in a generation,” Zach Dell, co-founder and CEO of Base Power, said in a news release. “The challenge ahead requires the best engineers and operators to solve it, and we’re scaling the team to make our abundant energy future a reality.”

Zach Dell is the son of Austin billionaire and Houston native Michael Dell, chairman and CEO of Round Rock-based Dell Technologies.

In less than two years, Base Power has developed more than 100 megawatt-hours of battery-enabled storage capacity. One megawatt-hour represents one hour of energy use at a rate of one million watts.

Base Power recently expanded its service to the city of Houston. It already was delivering energy to several other communities in the Houston area. To serve the Houston region, the startup has opened an office in Katy.

The startup also serves the Dallas-Fort Worth and Austin markets. At some point, Base Power plans to launch a nationwide expansion.

To meet current and future demand, Base Power is building its first energy storage and power electronics factory at the former downtown Austin site of the Austin American-Statesman’s printing presses.

“We’re building domestic manufacturing capacity for fixing the grid,” Justin Lopas, co-founder and chief operating officer of Base Power, added in the release. “The only way to add capacity to the grid is [by] physically deploying hardware, and we need to make that here in the U.S. ... This factory in Austin is our first, and we’re already planning for our second.”

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This article originally appeared on EnergyCapitalHTX.com.

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Base Power co-founders Justin Lopas and Zach Dell. Courtesy photo

Electricity startup expands to Houston with promise of backup battery power

Power Up

An Austin startup that sells electricity and couples it with backup power has entered the Houston market.

Base Power, which claims to be the first and only electricity provider to offer a backup battery, now serves the Houston-area territory served by Houston-based CenterPoint Energy. No solar equipment is required for Base Power’s backup batteries.

The company is initially serving customers in the Cy-Fair, Spring, Cinco Ranch and Mission Bend communities, and will expand to other Houston-area places in the future.

Base Power already serves customers in the Austin and Dallas-Fort Worth markets.

The company says it provides “a cost-effective alternative to generators and solar-battery systems in an increasingly unreliable power grid.”

“Houston represents one of the largest home backup markets in the world, largely due to dramatic weather events that strain the power grid,” says Base Power co-founder and CEO Zach Dell, son of tech billionaire Michael Dell. “We’re eager to provide an accessible energy service that delivers affordable, reliable power to Houston homeowners.”

After paying a $495 or $995 fee that covers installation and permitting, and a $16- or $29-per-month membership fee, Base Power customers gain access to a backup battery and competitive energy rates, the company says. The startup is waiving the $495 setup fee for the first 500 Houston-area homeowners who sign up and make a refundable deposit.

With the Base Power backup package, electricity costs 14.3 cents per kilowatt-hour, which includes Base Power’s 8.5 cents per kilowatt-hour charge and rates charged by CenterPoint. The average electric customer in Houston pays 13 cents per kilowatt-hour, according to EnergySage.

“Base Power is built to solve a problem that so many Texans face: consistent power,” says Justin Lopas, co-founder and chief operating officer of Base Power and a former SpaceX engineer. “Houstonians can now redefine how they power their homes, while also improving the existing power grid.”

Founded in 2023, Base Power has attracted funding from investors such as Thrive Capital, Valor Equity Partners, Altimeter Capital, Trust Ventures, and Terrain. Zach Dell was previously an associate on the investment team at Thrive Capital.

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This story originally appeared on our sister site, EnergyCapitalHTX.com.

Branch Energy aims to provide customers with clean energy at a lower cost than competitors. Photo via Getty Images

Houston clean energy co. raises $10.8M series A

fresh funding

A tech-driven retail energy provider based in Houston has secured an oversubscribed series A round of funding.

Branch Energy raised a $10.8 million round led by climate-focused venture capital firm Prelude Ventures with co-investor Zero Infinity Partners, an infrastructure tech-focused firm. The fresh funding will go toward accelerating the company's battery management tech and build out the infrastructure of its field services.

A vertically integrated power provider, Branch Energy aims to provide customers with demand management software and battery storage systems to ensure long-term, stable, and clean energy at a lower cost than competitors.

“Our century-old grid design is not equipped for the complexity of today’s energy needs," Alex Ince-Cushman, Branch Energy co-founder and CEO, says in a news release. “Optimizing distributed energy assets in real-time will play an increasingly important role in managing the grid. We built Branch from the ground up as a technology company, allowing us to deliver value to customers in this new era of distributed energy by reducing costs while improving reliability."

The company chose Texas as its inaugural market based on the stress of the grid in the state, the company says in the release. Since 2021 when Branch Energy launched, it has signed up thousands of customers for its 100 percent clean energy service. The business proposition includes lowering customer's energy bills by 5 to 10 percent.

“The power grid, especially in Texas, requires distributed generation and flexible loads as basic economics drives deployment of more renewable resources,” Tim Woodward, managing partner at Prelude Ventures, adds. “Across the country, we are experiencing a major shift toward a decentralized and decarbonized grid. Branch Energy is bringing value to its customers through deployment of intelligent storage that lowers costs and improves reliability.”

Branch Energy, which is available now in some Texas regions, had previously raised $5.5 million in seed and pre-seed funding, per Crunchbase.

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This article originally ran on EnergyCapital.

Despite its high energy production, Texas has had more outages than any other state over the past five years due to the increasing frequency and severity of extreme weather events and rapidly growing demand. Photo via Getty Images

Untapped potential: The role of residential energy management in Texas

guest column

Texas stands out among other states when it comes to energy production.

Even after mass rolling blackouts during Winter Storm Uri in 2021, the Lone Star State produced more electricity than any other state in 2022. However, it also exemplifies how challenging it can be to ensure grid reliability. The following summer, the state’s grid manager, the Electrical Reliability Council of Texas (ERCOT), experienced ten occasions of record-breaking demand.

Despite its high energy production, Texas has had more outages than any other state over the past five years due to the increasing frequency and severity of extreme weather events and rapidly growing demand, as the outages caused by Hurricane Beryl demonstrated.

A bigger storm is brewing

Electric demand is poised to increase exponentially over the next few years. Grid planners nationwide are doubling their five-year load forecast. Texas predicts it will need to provide nearly double the amount of power within six years. These projections anticipate increasing demand from buildings, transportation, manufacturing, data centers, AI and electrification, underscoring the daunting challenges utilities face in maintaining grid reliability and managing rising demand.

However, Texas can accelerate its journey to becoming a grid reliability success story by taking two impactful steps. First, it could do more to encourage the adoption of distributed energy resources (DERs) like residential solar and battery storage to better balance the prodigious amounts of remote grid-scale renewables that have been deployed over the past decade. More DERs mean more local energy resources that can support the grid, especially local distribution circuits that are prone to storm-related outages. Second, by combining DERs with modern demand-side management programs and technology, utilities can access and leverage these additional resources to help them manage peak demand in real time and avoid blackout scenarios.

Near-term strategies and long-term priorities

Increasing electrical capacity with utility-scale renewable energy and storage projects and making necessary electrical infrastructure updates are critical to meet projected demand. However, these projects are complex, resource-intensive and take years to complete. The need for robust demand-side management is more urgent than ever.

Texas needs rapidly deployable solutions now. That’s where demand-side management comes in. This strategy enables grid operators to keep the lights on by lowering peak demand rather than burning more fossil fuels to meet it or, worse, shutting everything off.

Demand response, a demand-side management program, is vital in balancing the grid by lowering electricity demand through load control devices to ensure grid stability. Programs typically involve residential energy consumers volunteering to let the grid operator reduce their energy consumption at a planned time or when the grid is under peak load, typically in exchange for a credit on their energy bill. ERCOT, for example, implements demand responseand rate structure programs to reduce strain on the grid and plans to increase these strategies in the future, especially during the months when extreme weather events are more likely and demand is highest.

The primary solution for meeting peak demand and preventing blackouts is for the utility to turn on expensive, highly polluting, gas-powered “peaker” plants. Unfortunately, there’s a push to add more of these plants to the grid in anticipation of increasing demand. Instead of desperately burning fossil fuels, we should get more out of our existing infrastructure through demand-side management.

Optimizing existing infrastructure

The effectiveness of demand response programs depends in part on energy customers' participation. Despite the financial incentive, customers may be reluctant to participate because they don’t want to relinquish control over their AC. Grid operators also need timely energy usage data from responsive load control technology to plan and react to demand fluctuations. Traditional load control switches don’t provide these benefits.

However, intelligent residential load management technology like smart panels can modernize demand response programs and maximize their effectiveness with real-time data and unprecedented responsiveness. They can encourage customer participation with a less intrusive approach – unlocking the ability for the customer to choose from multiple appliances to enroll. They can also provide notifications for upcoming demand response events, allowing the customer to plan for the event or even opt-out by appliance. In addition to their demand response benefits, smart panels empower homeowners to optimize their home energy and unlock extended runtime for home batteries during a blackout.

Utilities and government should also encourage the adoption of distributed energy resources like rooftop solar and home batteries. These resources can be combined with residential load management technology to drastically increase the effectiveness of demand response programs, granting utilities more grid-stabilizing resources to prevent blackouts.

Solar and storage play a key role

During the ten demand records in the summer of 2023, batteries discharging in the evening helped avoid blackouts, while solar and wind generation covered more than a third of ERCOT's daytime load demand, preventing power price spikes.

Rooftop solar panels generate electricity that can be stored in battery backup systems, providing reliable energy during outages or peak demand. Smart panels extend the runtime of these batteries through automated energy optimization, ensuring critical loads are prioritized and managed efficiently.

Load management technology, like smart panels, enhances the effectiveness of DERs. In rolling blackouts, homeowners with battery storage can rely on smart panels to manage energy use, keeping essential appliances operational and extending stored energy usability. Smart panels allow utilities to effectively manage peak demand, enabling load flexibility and preventing grid overburdening. These technologies and an effective demand response strategy can help Texans optimize the existing energy capacity and infrastructure.

A more resilient energy future

Texas can turn its energy challenges into opportunities by embracing advanced energy management technologies and robust demand-side strategies. Smart panels and distributed energy resources like solar and battery storage offer a promising path to a resilient and efficient grid. As Texans navigate increasing electricity demands and extreme weather events, these innovations provide hope for a future where reliable energy is accessible to all, ensuring grid stability and enhancing the quality of life across the state.

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Kelly Warner is the CEO of Lumin, a responsive energy management solutions company.

This article originally ran on EnergyCapital.
Bildmore expects to invest in 10 to 15 third-party, utility-scale clean energy projects each year. Photo via Getty Images

New platform launches in Houston to invest in clean energy endeavors

eyes on energy transition

Houston-based EnCap Energy Transition Fund has launched a platform that will take minority equity stakes in battery storage systems, solar energy systems, and other energy transition projects in the U.S.

With its new Bildmore arm, the EnCap fund aims to fuel development of renewable energy projects that can’t attract traditional tax equity financing. Bildmore expects to invest in 10 to 15 third-party, utility-scale clean energy projects each year.

Bildmore seeks to capitalize on clean energy incentives tucked into the federal Inflation Reduction Act of 2022, including the ability of projects to sell tax credits. Specifically, the platform says it hopes to address “a chronic short supply” of tax equity deals due to heightened demand triggered by the inflation reduction law.

EnCap is no stranger to utility-scale solar power and battery storage systems. The fund backs Houston-based Broad Reach Power and Austin-based Jupiter Power, two of the largest players in the U.S. market for battery storage.

David Haug leads Bildmore as its CEO. He is co-founder and senior managing director of Houston-based Arctas Capital Group, which invests in energy infrastructure projects.

“Bildmore will focus on … battery storage and solar projects, particularly those which have chosen to leave all or part of their energy output available for ‘merchant’ sale rather than be sold under long-term contracts,” Haug says in a news release. “We want to help those development teams lacking the deep balance sheets typically required by tax equity providers.”

EnCap Investments, sponsor of the EnCap Energy Transition Fund, manages capital from more than 350 U.S. and international investors. Since its founding in 2019, EnCap Investments has raised 25 institutional investment funds totaling about $41 billion to support independent energy businesses in the U.S.

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This article originally ran on InnovationMap.

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Houston medtech startup clears FDA approval for new surgical tool

precision surgery

Houston-based Prana Surgical will soon bring a new electrosurgical tool to operating rooms around the country. The Prana System officially cleared U.S. Food and Drug Administration (FDA) approval earlier this month.

"Receiving FDA clearance for the Prana System represents a defining milestone for our company," Joanna Nathan, CEO and co-founder of Prana Surgical, said in a news release. "Surgeons today are increasingly focused on achieving precise outcomes while minimizing disruption to healthy tissue. The Prana System was designed to support that shift by integrating targeting and excision into a single, streamlined tool."

Prana Surgical began as Prana Thoracic in 2022. Back then, the company primarily focused on developing screening tools for lung cancer diagnosis. It raised $6 million in series A funding rounds in 2023 and 2024 before transitioning to broader surgical needs in 2025.

The Prana System is a minimally invasive, image-guided, single-use tissue extraction tool designed to retrieve samples without damaging healthy tissue. The tool is still designed with the respiratory system in mind, helping Prana in the fight against lung cancer and other thoracic diseases.

Reducing the impact of tissue extraction via electrosurgery and enhanced image scanning can significantly reduce complications. The Prana System combines localization and tissue-cutting capabilities in one, which keeps surgeons from having to swap out components during a procedure, making for a smoother process. It can core, cut and feel blood vessels on the way toward the intended target, giving surgeons greater control over tissue preservation.

"Electrosurgery is foundational to modern surgery, but there is still opportunity to improve how energy-based tools are applied in minimally invasive settings," Nathan added. "Our goal is to introduce a new class of image-guided surgical tools that enable more precise intervention across a range of procedures."

The company projects sales of $7.5 billion from the Prana System in the United States, estimating that 2.5 million surgical modules will be able to use the new tool. While starting out focused on biopsies, the company plans to evolve the system into other procedures, such as ablation, in the future. It is also planning for a controlled U.S. clinical rollout as it moves toward commercialization

Texas still ranks as No. 1 in U.S. for inbound moves, but growth dips

by the numbers

Texas continues to be the country’s No. 1 magnet for newcomers from other states, giving a boost to the state’s economy. However, Texas’ appeal weakened in 2024 compared with the previous year, due in large part to spiking home prices.

An analysis of U.S. Census Bureau data by self-storage platform StorageCafe shows Texas saw net interstate migration of 76,000 people in 2024. Texas’ net interstate migration dropped nearly 50 percent from 2023, according to the analysis. Net migration refers to the number of incoming residents minus the number of outgoing residents.

California remained the top source of newcomers for Texas, sending nearly 77,000 residents to the Lone Star State in 2024, the analysis says. Florida ranked second, followed by New York, Colorado and Illinois.

“These trends reveal Texas’ continued pull from both high-cost coastal markets and other large Sun Belt states, resulting in a mix of affordability-driven and job-driven relocation,” StorageCafe says.

Putting a damper on the influx of new residents: a roughly 124 percent surge in Texas home prices over the past decade, according to StorageCafe.

“While the state remains significantly more affordable than California, its top feeder state, the once-wide pricing gap has narrowed,” says StorageCafe. “For many movers, Texas is still a relative bargain, but no longer an undisputed one.”

Nonetheless, Texas keeps attracting young, highly educated people, which bodes well for the state’s long-term economic outlook, StorageCafe says. More than half of new arrivals to Texas in 2024 held at least a bachelor’s degree, and the age of newcomers averaged 32.

Where are most of these young, highly educated newcomers settling?

Lloyd Potter, former Texas state demographer, tells StorageCafe that population growth in Texas is happening most rapidly in suburban “ring counties” at the expense of slowing growth in urban cores. Ring counties are on the outskirts of major metro areas.

“Many people are moving from urban cores to suburban rings seeking lower costs, newer housing, better schools, and more space,” Potter says. “Typically, a move to a suburban county will be within commuting or hybrid‑commuting distance of major metro economies.”

Artemis II makes historic call to space station with help from Houston Mission Control

History in the making

Still aglow from their triumphant lunar flyby, the Artemis II astronauts made more history Tuesday, April 7: calling their friends aboard the International Space Station hundreds of thousands of miles away as they headed home from the moon.

It was the first moonship-to-spaceship radio linkup ever. NASA's Apollo crews had no off-the-planet company back in the 1960s and 1970s, the last time humanity set sail for deep space.

"We have been waiting for this like you can’t imagine,” Artemis II commander Reid Wiseman called out.

For Christina Koch on Artemis II and Jessica Meir aboard the space station, it marked a joyous space reunion despite being 230,000 miles (370,000 kilometers) apart. The two teamed up for the world's first all-female spacewalk in 2019 outside the orbiting lab.

Koch told her “astro-sister” that she'd hoped to meet up with her again in space “but I never thought it would be like this — it's amazing.”

“I'm so happy that we are back in space together,” Meir replied, “even if we are a few miles apart.”

Houston's Mission Control arranged the cosmic chitchat between the four lunar travelers and the space station's three NASA and one French residents.

Koch described being awe-struck by not just the beauty of Earth, “but how much blackness there was around it.”

“It just made it even more special. It truly emphasized how alike we are, how the same thing keeps every single person on planet Earth alive,” she told the space station crew. “The specialness and preciousness of that really is emphasized” when viewing the home planet from the moon.

By late Tuesday afternoon, the Artemis II astronauts had beamed back more than 50 gigabytes' worth of pictures and other data from the previous day's lunar rendezvous, which set a new distance record for humanity. The highlight: an Earthset photo reminiscent of Apollo 8's Earthrise shot from 1968.

"While they are inspirational and, I think, allow all of us to really feel a little bit of what they were feeling, there's also a lot of science hidden inside of those images," said Mission Control's lead lunar scientist Kelsey Young. “The conversations and the science lessons learned are just beginning."

During a debriefing with Young, the astronauts recounted how they spotted a cascade of pinpricks of light on the lunar surface from impacting cosmic debris. The flashes lasted mere milliseconds and coincided by chance with Monday evening's total solar eclipse.

Young said it was too soon to know whether the crew witnessed an actual meteor shower or more random, run-of-the-mill micrometeoroid hits. Either way, there were “audible screams of delight” in the science operations center, she said.

Koch described being awe-struck by not just the beauty of Earth, “but how much blackness there was around it.”

“It just made it even more special. It truly emphasized how alike we are, how the same thing keeps every single person on planet Earth alive,” she told the space station crew. “The specialness and preciousness of that really is emphasized” when viewing the home planet from the moon.

The first lunar explorers since Apollo 17 in 1972, Wiseman and his crew are aiming for a splashdown off the San Diego coast on Friday to wrap up the nearly 10-day test flight. The recovery ship USS John P. Murtha left port Tuesday for the target zone.

It sets the stage for next year's Artemis III, a lunar lander docking demo in orbit around Earth. Artemis IV will follow in 2028 with two astronauts attempting to land near the lunar south pole.

As for the Orion capsule’s pesky potty, Mission Control assured the astronauts that no maintenance was required Tuesday. The toilet has been on-and-off limits to the crew ever since last week’s launch, prompting them to rely on a backup bag-and-funnel system for urinating.

NASA Administrator Jared Isaacman told the crew following the lunar flyby Monday night: “We definitely have to fix some of the plumbing” ahead of the next Artemis mission. Engineers suspect a clogged filter in the overboard flushing system.

Aside from the toilet and other relatively minor matters, the mission has gone well, Isaacman noted at a news conference Tuesday, “but I'll breathe easier when we get through reentry and everybody's under chutes and in the water.”

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