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.”

---

This article originally appeared on EnergyCapitalHTX.com.

From Your Site Articles
Health care companies dominated Fortune's America’s Most Innovative Companies report for 2025, with Houston’s top-rated company on the list falling into that sector. Photo via Getty Images

8 Houston companies earn spots among Fortune's most innovative for 2025

top honor

Eight Houston companies have been named to Fortune’s third annual list of America’s Most Innovative Companies, joining another 16 from the state of Texas.

The group of 300 companies nationwide was rated based on production innovation, process innovation, and innovation culture, according to Fortune. In partnership with Statista, the magazine considered IP portfolios, employee, expert and customer opinions; and many other factors.

While many of the top-rated companies fell into the tech sector, Fortune reports that health care companies made up the largest portion of the 2025 list. Sixty-three honorees fell into the health care category, including Houston’s top-rated company, Houston Methodist.

Here’s which Houston companies made the list and where they ranked:

  • No. 35 — Houston Methodist
  • No. 54. — ExxonMobil
  • No. 137 — NRG Energy
  • No. 158 — Hewlett-Packard Enterprise
  • No. 169 — BMC Software
  • No. 175 — Texas Children’s Hospital
  • No. 227 — Sysco
  • No. 268 — Chevron

“This award is a true credit to the culture we have created around innovation and the incredible work of Roberta Schwartz, our Chief Innovation Officer, and her team at the Center for Innovation,” Marc Boom, CEO of Houston Methodist, said in a LinkedIn post. “They have really set the tone for how we can use innovation and technology to continue to deliver the highest quality care for our patients.”

Dallas-Fort Worth claimed the largest number of Texas companies on the list, with 11 headquartered in the metroplex. Houston was home to the second-most with eight hailing from the Bayou City. Austin is home to only four of the companies on the list, however, companies from the Capital City ranked higher on average, with Oracle, Tesla and Dell Technologies claiming the top three spots for the state. Beloved Texas grocer H-E-B was the one company to represent San Antonio.

Here's how the other Texas companies fared:

  • No. 6 — Oracle
  • No. 11 — Tesla
  • No. 14 — Dell Technologies
  • No. 37 — AT&T
  • No. 59 — Texas Instruments
  • No. 89 — Charles Schwab
  • No. 91 — McKesson
  • No. 113 — Jacobs Solutions
  • No. 125 — Baylor, Scott & White Health
  • No. 165 — Frontier Communications
  • No. 201— H-E-B
  • No. 210 — CBRE Group
  • No. 219 — TTEC Holdings
  • No. 223 — GameStop
  • No. 251 — American Airlines Group
  • No. 271 — Caterpillar

California-based tech conglomerate Alphabet Inc. topped the list for the third year in a row, and California companies again represented the majority of companies on the list, according to Fortune. Alphabet, Microsoft, Apple, IBM and Salesforce made up the top five, of which three are headquartered in California.

The 2025 group had a median revenue of $22 billion over the last 12 months, according to Fortune. See the full report here.

Plug and Play is opening a Sugar Land hub to accelerate startups and innovation across smart cities, energy, health, and mobility sectors. Photo courtesy of Plug and Play

West Coast innovation organization unveils new location in Houston suburb to boost Texas tech ecosystem

plugging in

Leading innovation platform Plug and Play announced the opening of its new flagship Houston-area location in Sugar Land, which is its fourth location in Texas.

Plug and Play has accelerated over 2,700 startups globally last year with corporate partners that include Dell Technologies, Daikin, Microsoft, LG Chem, Shell, and Mercedes. The company’s portfolio includes PayPal, Dropbox, LendingClub, and Course Hero, with 8 percent of the portfolio valued at over $100 million.

The deal, which facilitated by the Sugar Land Office of Economic Development and Tourism, will bring a new office for the organization to Sugar Land Town Square with leasing and hiring between December and January. The official launch is slated for the first quarter of 2025, and will feature 15 startups announced on Selection Day.

"By expanding to Sugar Land, we’re creating a space where startups can access resources, build partnerships, and scale rapidly,” VP Growth Strategy at Plug and Play Sherif Saadawi says in a news release. “This location will help fuel Texas' innovation ecosystem, providing entrepreneurs with the tools and networks they need to drive real-world impact and contribute to the state’s technological and economic growth."

Plug and Play plans to hire four full-time equivalent employees and accelerate two startup batches per year. The focus will be on “smart cities,” which include energy, health, transportation, and mobility sectors. One Sugar Land City representative will serve as a board member.

“We are excited to welcome Plug and Play to Sugar Land,” Mayor of Sugar Land Joe Zimmerma adds. “This investment will help us connect with corporate contacts and experts in startups and businesses that would take us many years to reach on our own. It allows us to create a presence, attract investments and jobs to the city, and hopefully become a base of operations for some of these high-growth companies.”

The organization originally entered the Houston market in 2019 and now has locations in Bryan/College Station, Frisco, and Cedar Park in Texas.

Howard and Susan Elias donated $16.25 million to the University of Texas MD Anderson Cancer Center. Photo via mdanderson.org

Retired tech leader makes $16.25M donation to Houston health care organization

a meaningful gift

Earlier this year, an executive at Dell Technologies announced his retirement and commitment to philanthropy. Just a few months later, he and his wife made a whopping donation to the Houston health care organization that's responsible for curing their son.

Howard and Susan Elias donated $16.25 million to the University of Texas MD Anderson Cancer Center, the organization announced this week. The gift will go toward accelerating brain tumor and cancer neuroscience research. Howard Elias, who held C-level roles at EMC Corp. and Dell Technologies after EMC's acquisition in 2015, retired in April.

The Eliases have supported MD Anderson since Harrison, Howard and Susan's son, was diagnosed with brain cancer. In 2000, Harrison underwent a successful surgery by Dr. Frederick Lang.

“Dr. Lang and the incredible team at MD Anderson saved my son’s life more than two decades ago,” says Howard in a news release. “Now is the time for us to increase our commitment so we can play a significant role in advancing cancer neuroscience research specifically focused on brain tumors and the nervous system. We want other families to have the chance to see their son grow up, like our family has.”

The donation is the lead donation to concentrate cross-disciplinary research in cancer neuroscience, per the release.

“Our focus is on unraveling the fundamental scientific principles driving the cancer-neuroscience interaction,” Lang says in the release. “These advances will drive prevention, early detection and possibly even cures for neurological cancers; will lead to strategies to overcome the adverse effects of cancer treatments on the nervous system; and will address mental health needs in cancer patients, with the ultimate result of dramatically improving outcomes.”

Lang leads the Cancer Neuroscience Program alongside Dr. Vinay Puduvalli, M.D., chair of Neuro-oncology;and Jim Ray, Ph.D., director of the Neurodegeneration Consortium.

“A future free from cancer is unattainable unless we work together,” says Dr. Peter WT Pisters, president of MD Anderson. “Howard and Susan’s generosity and passion will play a crucial role as we work in this emerging space for generations to come. On behalf of our patients and their families, we extend our heartfelt gratitude.”

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

6 Houston health tech startups making major advancements right now

meet the finalists

Home to leading hospitals, universities and health-focused incubators, Houston is a breeding ground for innovative medical technology and breakthroughs that can improve outcomes and lead to a better quality of life for patients.

The Health Tech Business category in our 2025 Houston Innovation Awards will honor an innovative startup within the health and medical technology sectors.

Six forward-thinking businesses have been named finalists for the 2025 award. They range from an end-of-life care company to others developing devices and systems for heart monitoring, sleep apnea, hearing loss and more.

Read more about these businesses, their innovative founders, and how they're shaping the future of health care below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled at our live awards ceremony.

Tickets are now on sale for this exclusive event celebrating all things Houston Innovation.

Bairitone Health

Bairitone Health is bringing anatomy imaging for sleep apnea to the home environment. The company's platform maps users' anatomy during natural sleep using a facial patch to determine the root cause of airway obstruction. It then offers effective therapies for each patient. The system is currently in the research and development phase and is being used in clinical trials and studies.

The company was founded in 2022 in the Texas Medical Center's Biodesign program by CEO Meagan Pitcher, CTO Onur Kilic and chief medical officer Britt Cross. It was a member of Activate Houston's inaugural cohort and has participated in numerous accelerators and incubators. It raised a pre-seed round last year of $435,000.

Corveus Medical

Corveus Medical has developed a novel catheter device that allows cardiologists to perform a splanchnic nerve ablation, restoring the pressure balance in patients with moderate heart failure. Its pre-FDA-approved, minimally invasive solution deactivates a nerve that has been demonstrated to be a root cause behind heart failure progression, which allows physicians to treat patients who have traditionally had few options.

The company, formerly known as Caridian Medical, was founded in 2021 by CEO Tyler Melton and CMO Ishan Kamat. It has participated in incubators such as TMC Biodesign, Y Combinator, MedTech Innovator and Fogarty Innovation and was named one of the 10 most promising life science companies at Texas Life Science Forum in 2022. The company says it will move toward validation and verification testing for its device in Q4 of this year.

FibroBiologics

Regenerative medicine company FibroBioligics uses fibroblasts, the body’s most common type of cell, rather than stem cells, to help grow new cells to repair tissue and modulate the immune system. The cell therapies offer treatments for chronic conditions such as degenerative disc disease, multiple sclerosis and non-healing wounds.

The publicly traded company was founded in 2021 by CEO Pete O'Heeron. It opened a new 10,000-square-foot Houston lab earlier this year to scale up research efforts and pave the way for in-house manufacturing. The company says it plans to launch its first clinical trial for diabetic foot ulcers soon, representing the transition of its fibroblast technology to the clinic setting.

Koda Health

Koda Health has developed an advance care planning platform (ACP) that allows users to document and share their care preferences, goals and advance directives for health systems. The web-based platform guides patients through values-based decisions with interactive tools and generates state-specific, legally compliant documents that integrate seamlessly with electronic health record systems. The company also added kidney action planning to its suite of services for patients with serious illnesses last year.

Koda Health was founded out of the TMC's Biodesign Fellowship in 2020 by CEO Tatiana Fofanova, chief medical officer Dr. Desh Mohan, and chief technology officer Katelin Cherry. The company raised a $7 million series A earlier this year, and also announced major partnerships and integrations with Epic, Guidehealth, Medical Home Network, Privia Health and others.

NanoEar

NanoEar has miniaturized hearing aid technology so that it can be implanted across the eardrum, allowing adults with age-related hearing loss to enjoy better sound quality than they would with behind-the-ear hearing aids.

Dr. Ron Moses, an ENT specialist and surgeon at Houston Methodist, developed the technology, and the company was founded in 2016 with CFO Willem Vermaat and COO Michael Moore. The company participated in the TMC Innovation Institute in 2016. It has issued nine U.S. patents and performed successful human cadaver and animal proof-of-concept experiments. Its next step is developing a prototype.

Wellysis USA

Wellysis USA Inc. works to detect heart rhythm disorders with its continuous ECG/EKG monitor with AI reporting. Its S-Patch cardiac monitor is designed for extended testing periods of up to 14 days on a single battery charge. The device weighs only 9 grams, is waterproof and designed to be comfortable to wear, and is considered to have a high detection rate for arrhythmias. It is ideally suited for patient-centric clinical trials to help physicians make diagnoses faster, cheaper and more conveniently.

It was established in Houston in 2023 and participated in the JLABS SFF Program the same year. It closed a $12 million series B last year. It was founded by CEO Young Juhn, CTO Rick Kim, CFO JungSoo Kim and chief strategy officer JoongWoo Kim.

---

The Houston Innovation Awards program is sponsored by Houston Community College, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.

Houston university is at the top of the class in new college ranking

Top of the Class

Rice University is maintaining its reputation as one of the top colleges in the U.S., according to a new batch of rankings from WalletHub.

Rice topped WalletHub's 2026 lists comparing the best colleges and universities in Texas and the best universities in the South. The private institution also ranked as the 9th best university in the country, three spots lower than its 2024 ranking.

The personal finance website's experts analyzed nearly 800 colleges and universities in the U.S. using 30 key metrics, including factors like student-faculty ratios, graduation rates, campus safety, and many more.

Rice was ranked across seven major categories in the report and scored highly for its faculty resources (No. 10), student educational outcomes (No. 12), student selectivity (No. 16), student career outcomes (No. 26), and campus experience (No. 46).

The only two categories Rice lagged behind in were campus safety (No. 576) and cost and financing (No. 700). U.S. News & World Report says tuition and fees at Rice can add up to more than $65,000 per year for in-state students, with the total cost soaring to nearly $84,000 when factoring in the price for housing, food, books and supplies, transportation, and personal expenses.

In addition to topping WalletHub's rankings, Rice has also claimed top spots in other prestigious lists by U.S. News, Forbes, The Princeton Review, and more. Rice's revered graduate schools – including the MBA program at the Jones Graduate School of Business and Brown School of Engineering and Computing – are also among the best in the country, according to U.S. News and The Princeton Review.

Locally, University of Houston also ranked among the statewide top 10 and ranked as the 268th best university in the U.S. for 2026. In the regional rankings of best universities in the South, UH ranked 52nd on the list

The 10 best colleges and universities in Texas for 2026 are:

  • No. 1 – Rice University, Houston
  • No. 2 – The University of Texas at Austin
  • No. 3 – Trinity University, San Antonio
  • No. 4 – Texas A&M University-College Station
  • No. 5 – Texas Christian University, Fort Worth
  • No. 6 – Austin College, Sherman
  • No. 7 – Southwestern University, Georgetown
  • No. 8 – University of Dallas
  • No. 9 – The University of Texas at Dallas
  • No. 10 – University of Houston
---
This article originally appeared on CultureMap.com.

Port Houston reports emissions progress as cargo volumes climb

Greener growth

Port Houston’s initiatives to reduce emissions have shown some positive results, according to new data from the Port of Houston Authority.

Pulling from the Goods Movement Emissions Inventory (GMEI) report, which tracks port-related air emissions, Port Houston cited several improvements compared to the most recent report from 2019.

The port has seen total tonnage and container volumes increase by 16 percent and 28 percent, respectively, since 2019. However, greenhouse gas emissions have increased at a slower rate, growing only by 10 percent during the same time period, according to the data.

Additionally, emissions of nitrogen oxide fell by 7 percent, and emissions of particulate matter fell by 4 percent, despite adding 280 more pieces of cargo handling equipment.

“These results show that our emission-reduction efforts are working, and we are moving in the right direction,” Chairman Ric Campo said in a news release.

The Port Commission also recently approved items related to the $3 million U.S. Environmental Protection Agency Clean Ports Program (CPP) grant, which it received last year. The items will allow the port to work towards five new sustainability initiatives.

They include:

  1. An inventory of the port’s Scopes 1, 2, and 3 for greenhouse gas emissions
  2. A Port Area Climate Action Plan for the area and surrounding communities
  3. A CPP Truck Route Analysis
  4. Creation of the CPP Trucking Industry Collaborative
  5. Design of a customized website for Port of Houston Partners in Maritime Education, which is a non-profit leading maritime workforce development effort in local schools

Port Houston aims to be carbon neutral by 2050.

View All Listings