Inform us about your business? (mission, partners, regions you run in, main clients, etc.).
The vision of 548 Capital is to make sustainable innovations available for all: all communities, all households, everybody must have gain access to. Someone, some entity, has to serve as the bridge so that those innovations reach everyone.
What can companies like ACORE do to move that needle for you, to break down that barrier?
Putting individuals in rooms together so everyone can share notes is always important. Stabilizing exposure, standing next to us and saying “these communities are worthwhile of investment”– you cant put a worth on that
How can possible partners work with you?
Now, we are Chicago-focused. We are always trying to find partners to invest, use debt or purchase some tax credits, thats the first ask. If they desire to see some of the sustainable technology we are putting in these communities, we are also constantly willing to host individuals. This is not exclusive; its an open book. We host people once a week at our structure so they can see the innovation that were applying in communities that historically have not had access. We are also going to be expanding our board. Im constantly challenging leading executives to put their name and face on these efforts due to the fact that I believe that has genuine worth
How was your Accelerate subscription benefited you?
Its been terrific just to satisfy the other Accelerate member business. I found out a lot from having discussions with them in real-time, and finding out about people with completely different perspectives. I love the networking.
I believe we are doing the finest we can do in the COVID environment. Simply knowing that it exists, and that ACORE is so intentional about the program, makes a big distinction.
Show us a current success story.
We just recently joined Mayor Lightfoot for an interview to reveal that we will be building a $30 million, totally inexpensive and entirely sustainable advancement, in collaboration with the City of Chicago. We are building 50 domestic systems, a coffee shop, an organization center, all on the South Side of Chicago, which will broaden solar-powered usage in the city
What impact are you making?
I think there is constantly a shock when individuals discover who is behind our company. Even in our own neighborhoods, people just cant believe it.
The other thing that I believe is essential is we have an economic effect that resonates with people, and its a pretty powerful message. That quantity of money effects the budget plan of everyday families
What challenges do you deal with? Why?
When I go to banks and say that were developing sustainable real estate in low- and moderate-income communities, they look at me like Ive spoken the incorrect language. These neighborhoods are still being red-lined. I believe the lesson is that union structure is important.
By Constance ThompsonAugust 31, 2021
Picture thanks to Pat Nabong/Sun-Times
The American Council on Renewable Energy (ACORE) is pleased to share the 3rd installation in our “Accelerating Renewables” blog series.
Each installment includes market leaders and topics associated with speeding up an equitable and just transition to a renewable resource economy. In acknowledgment of National Black Business Month, our August features highlight how 3 Black-owned Accelerate member business are growing in the renewable resource sector.
Robert “A.J.” Patton is a finance, sales, and capital markets expert with more than a years of experience in financial investment banking, endowment management, and property analysis. In May 2016, A.J. established 548 Capital, LLC, to integrate his competence and performance history of creating constant returns with an individual passion for assisting transform communities and their effect on the planet. In 2019, Patton was named a recipient of the Energy News 40 Under 40 award– highlighting his influence on Americas shift to a tidy economy.
READ MORE: Up-and-Comer Developer Makes Headway without the Banks ( Chicago Sun-Times, August 27, 2021).
What inspired you to start your business?
I had 2 pivotal minutes that made me leap. In 1999, my mother received a $400 gas expense, and she was only making ten bucks an hour, so we could not afford the gas expense. Therefore, regrettably, we had our gas and heat shut down. For approximately a year in my teenagers, we had to boil water and bring it approximately a porcelain tub to take a bath. Those were uniquely bumpy rides, and experiences like that just stick with you. I dont care what occurs the rest of your profession or what your lifestyle is moving on; those moments are with you forever. As I talk about that with different groups around the country, it has ended up being clear that my experience is not an anomaly. A lot of individuals have comparable anecdotes, and thats not an advantage
They looked confused that I would even attempt ask about the everyday individuals. I believe I turned in my resignation within six months of that discussion, and I started my business. I called it 548 Capital since that is the system number in the public housing where I grew up.
I think there is constantly a shock when people discover who is behind our company. Even in our own neighborhoods, people just cant think it. Putting individuals in spaces together so everyone can share notes is always valuable. We are also always ready to host individuals if they want to see some of the sustainable innovation we are putting in these communities. We host individuals as soon as a week at our structure so they can see the innovation that were applying in communities that historically havent had gain access to.