By Battery Power Online Staff
November 5, 2025 | Funding rounds from the past month in the battery space include distributed storage networks in homes, critical materials, maritime energy storage systems, and more.
$1B: Series C for Distributed Storage Technology
Base Power raised $1 billion in Series C financing, led by Addition. All other major investors are re-investing, including Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury. New major investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789. Base is a first-of-its-kind energy company powering America with reliable and affordable electricity. Base delivers for homeowners and for the grid through a network of distributed storage technology. In less than two years, Base has deployed more than 100 MWh of residential battery capacity. To meet current and future demand, Base is building its first energy storage and power electronics factory at the site of the former Austin American-Statesman printing press in the heart of downtown Austin. Press release.
$350M: Series E for Critical Materials, Grid Energy Storage
Redwood has closed a $350 million Series E funding round, led by Eclipse with participation from new strategic investors including NVentures (NVIDIA’s venture capital arm). This oversubscribed round reflects the excitement and rapid growth across Redwood’s two core, integrated business lines: Critical Materials (cobalt, nickel, copper, lithium and cathode active material) and Grid Energy Storage (very large scale, lowest cost, best integration). By combining deep materials and manufacturing expertise with advanced power electronics and software, Redwood is creating a new generation of U.S.-made energy storage systems—scalable, low-cost, and designed to power data centers, industry, and the grid—reducing reliance on imported LFP batteries. With this new capital, Redwood will accelerate the expansion of energy storage deployments, refining and materials production capacity, and its world-class engineering and operations teams. Press release.
$94M: Series C for Battery as a Service
Wuhan Weineng Battery Asset Co. announced the completion of a 670 million yuan Series C equity financing round. This round of financing saw follow-on investment from Weineng’s founding shareholders, while also newly introducing two state-owned capital shareholders: Haining Economic Development Zone and Hainan Chengmai. Officially, the funds from this round will primarily be used for battery asset-related business deployment and technological research and development iteration. Wuhan Weineng Battery Asset Co., Ltd. is a comprehensive solution provider for Battery as a Service (BaaS), with its business operations categorized into three main areas: battery asset management, battery data intelligence management, and resource cycling. In addition to the Series C equity financing, Weineng also successfully issued the first green technology innovation targeted asset-backed securities by a private enterprise on the interbank market in June 2025, with a total issuance scale of 550 million yuan and a priority tranche coupon rate of 2.00%. The funds raised will mainly be used for Weineng’s battery asset-related business deployment, helping to enhance the company’s technological innovation capabilities and promote the industrialization of technological achievements. News story.
$60M: Series E for Maritime ESS
Corvus Energy, a leading provider of low-carbon Energy Storage Systems (ESS) solutions suitable for a wide range of fully electric and hybrid-powered vessels, closed a Series E funding round led by Morgan Stanley Investment Management. 1GT private climate equity strategy (1GT) led an investor consortium that includes Just Climate and J. Lauritzen. The investor consortium brings dedicated growth capital, expertise across the maritime sector and strategic partnerships to accelerate Corvus Energy’s expansion as the Company directly addresses the rapidly growing demand for clean, efficient and high-performing maritime energy storage solutions. Founded in 2009 and headquartered in Bergen, Norway since 2019, Corvus Energy is a global leader in low-carbon maritime ESS. These advanced solutions power a wide range of vessels – from ferries and offshore service vessels to cruise liners – delivering cleaner operations in demanding maritime environments. By combining advanced battery technology with intelligent energy management systems, Corvus Energy may enable vessels globally to achieve zero-emission and low-emission operations. Press release.
$17M: Series B for BESS
enspired has secured an additional EUR 15 million in Series B funding, extending the total to EUR 40 million. The round brings in Future Energy Ventures as a new partner, alongside renewed commitments from Zouk Capital, EnBW New Ventures, Banpu NEXT, PUSH VC, and 360 Capital, following enspired’s rapid expansion into multiple new markets in recent months. The new capital will empower enspired to push further the boundaries of what is possible in AI-powered flexibility optimization, creating a new paradigm for how the world’s energy is managed. Press release.
