CLOU Electronics, a subsidiary of Midea Industrial Tech, announced at RE+ 2023 trade show (formerly Solar Power International, Energy Storage International, and Smart Energy Week) on September 12-14, organized by Smart Electric Power Alliance (SEPA) and Solar Energy Industries Association (SEIA) in Las Vegas. The Company took the opportunity at RE+ to unveil CLOU Energy Storage Systems' (CLOU ESS) US company. The twin aims of strengthening its business in the North American market and further consolidating its industry position globally.

This also marks an important milestone in the global structure of Midea Group's energy storage business. The founding of CLOU ESS's US company will empower CLOU to further penetrate the global market, including North America. Furthermore, with leading energy storage products and solutions, the company aims to bring customers greater value, and enhanced safety, reliability, stability, and energy and cost efficiency in the energy storage industry.

This had led to the 10-year extension of tax credits and a rise in its portion ranging between 30% and 70%. The resulting policy-driven economic leap in energy storage has brought a dramatic surge in the number of filings for electrochemical energy storage in the United States. According to statistics provided by international consulting organization, Orennia, all the top six projects in the United States with the highest independent energy storage operating profit in 2021 originated from CLOU.