CLOU Signed Another ESS Supplying Contract to South American, with a Volume Capacity of 437MWh

SHENZHEN, China, Oct. 19, 2023 /PRNewswire/ -- CLOU Electronics and a well-known energy enterprise in the South Americas have officially signed the "BATTERY ENERGY STORAGE SYSTEM Supply Agreement". According to the contract, CLOU will sell a container type battery energy storage system with a total capacity of 437MWh to the customer through DDP.

In recent years, the global business of CLOU ESS has been continuously accelerating, obtaining large orders for projects in the United States, South America, and other countries, accelerating the expansion of global energy storage business. This signing signifies that CLOU Energy Storage has fully gained market trust, further consolidating the company's industry position in the energy storage industry and the global market, and also laying a good foundation for Midea Group's international layout of energy storage business.

The trading party of this project is a well-known American enterprise with over 2000 professional engineers in power generation, energy storage, and digital energy solutions. Its products and solutions are widely used worldwide. The project will adopt the company's new generation energy storage system solution, which has excellent performance, good stability, cost balance, and fast installation. After the successful implementation of the project, it will become an important driving force for the transition of the local power source network system to renewable energy.

According to a report by Bloomberg New Energy Finance, China, the United States, and Europe are currently the top three global energy storage markets. Among them, the European and American markets, due to their high degree of electricity marketization and good profitability, have become an important layout direction for China's top energy storage industry chain enterprises. As one of the earliest companies who stared to enter the field of energy storage system integration since 2009, CLOU established the US Energy Storage Company in 2023, committed to meeting the strict requirements of the domestic and foreign energy storage markets through localization teams, standards, delivery, and sales. In the US market, CLOU has created multiple projects for users, including the first large-scale lithium-ion energy storage project with a capacity of 24MW/63MWh in Indiana, a 99MWh energy storage power station in Texas, and the largest 485MWh grid side energy storage in South America. According to international consulting firm Orenia, the top six independent energy storage operation profitability projects in the US in 2021 also come from CLOU.

After 27 years of deep cultivation in the power industry, with a deeper understanding of the power generation side, grid side, and consumption side than its competitors, CLOU has a more comprehensive and self-developed control unit in the energy storage field, including PCS, DC/DC, BMS, EMS, and O&MS, as well as project application capabilities covering all energy storage application scenarios. With the accelerated integration of the top 500 fortune Midea, CLOU has demonstrated strong software and hardware product strength and development potential in the field of energy storage system integration. In terms of research and development, it has formed a three-level R&D system structure consisting of Midea Central Research Institute, Industrial Technology Research Institute, and product company. Guided by the "user driven" corporate values, the CLOU ESS Team focuses on providing full project lifecycle services. From early project surveys, on-site delivery, to post sales services, it can achieve rapid response to customers and create 1+1+1>3 value. In the future, CLOU will also focus on the two major businesses of "smart grid" and "energy storage", continuously improving technological innovation and product research and development, and contributing to the high-quality and large-scale development of the new energy storage industry and the global low-carbon process.

About CLOU Electronics

Shenzhen CLOU Electronics Co.Ltd., founded in 1996 and listed on Shenzhen Stock Exchange in 2007 (Stock code: 002121), is a national high-tech enterprise engaged in providing core technology and system solutions for smart energy and energy internet. As a pioneering technology innovator in renewable energy and smart grids, CLOU has been focusing on the layout of cutting-edge technologies. With its core technologies, CLOU intends to build the most advanced energy storage system and energy internet to provide solutions to intelligent power generation, smart grid, intelligent energy storage, intelligent power consumption, energy trading, energy management services, among others. As one of the first enterprises in China to focus on utility-scale energy storage, is devoted to independent R&D and manufacturing of energy storage products as well as providing complete solutions for on-grid/off-grid public utilities, thermal power plants, solar and wind power plant operators, as well as residential users. In the future, CLOU will strive to continue to shape its international marketing sectors in order to become an even greater world-class energy services provider.