Solero Celebrates Robust Year

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WATER VALLEY – Solero Technologies marked a robust year at the Water Valley plant with a year-end celebration and community giving event on Nov. 30. An annual tradition, the plant awarded $10,000 to local non-profits including $5,000 to Compassion Ministries and $5,000 to TIN (This Is Noteworthy). Solero also partnered with Make A Wish Mississippi to make a Coffeeville teenager’s dream of a new gaming system come true.

CEO Dr. Donald James provided a brief overview of activity in the plant as hundreds of employees gathered in the parking lot along with corporate officials from Atar Capital, the owner of the plant. The successes for 2023 shared by James included growing their sales by 21 percent, year-over-year.

“This means we are a healthy company, we are headed in the right direction.

James also shared news about development of two products within the company’s product road map. The company introduced an e-valve, an electrical vehicle adapter lubricating valve used to cool electric motors and batteries in electric vehicles. The second product, an active suspension solenoid for advanced ride performance, can be used for electric vehicles or ICE (internal combustion engines).

 

“We are close to landing a major award with a major OEM (original equipment manufacturer) that will bring the company’s order intake to $100 million for the Water Valley plant,” James reported.
“It is a pleasure to be here and lead a great group of professionals as we have our annual giving event that we love to do.”

The next speaker was Asya Branch, who held the title of Miss Mississippi in 2018, and was the first African American woman to be crowned Miss Mississippi USA, competing for the title of Miss USA 2020 and becoming the first Mississippi representative to win the national title. She shared how she utilized a national platform to inspire and motivate young men and women nationwide to pursue their dreams.

Solero’s vice-president of Human Resources, Chris Byrd, then announced the winner of the 2023 Shirley Johnson Safety Award.

Kyle Schmit is a seven-year employee at the plant and has played a key role in the safety-first mindset through actions. He has aided in the design and development of safety controls and processes at the plant.

Schmit’s primary role is developing products at the plant. He brings his general product knowledge to help with the resolution of safety issue.

“I always keep my head on a swivel,” he shared.

The final speaker for the event was Atar Capital founder and managing partner, Cyrus Nikou.

“When I made the investment to acquire this business two years ago, I had not idea we were buying such an innovative, cutting-edge, technologically advanced business that had the capabilities to turn it in to what it is today,” Nikou said. “I get more excited every time I come down here.”

Nikou told the employees that he will continue to invest in the plant as long as he continues to see the dedication from the team.

“You guys are creating something really special. Our goal is to become a billion dollar business, and to become number one in every product category that we are manufacturing,” Nikou added.