I believe there is constantly a shock when individuals discover who is behind our business. Even in our own communities, individuals just cant think it. Putting individuals in spaces together so everybody can share notes is constantly valuable. We are likewise always ready to host people if they desire to see some of the sustainable technology we are putting in these communities. We host individuals when a week at our structure so they can see the technology that were using in communities that historically havent had gain access to.
Inform us about your company? (objective, partners, areas you operate in, main clients, etc.).
The vision of 548 Capital is to make sustainable technologies available for all: all communities, all families, everyone needs to have access. Somebody, some entity, has to serve as the bridge so that those innovations reach everybody.
Show us a current success story.
We recently signed up with Mayor Lightfoot for an interview to reveal that we will be constructing a $30 million, entirely sustainable and totally cost effective advancement, in collaboration with the City of Chicago. We are building 50 property units, a coffee store, an organization center, all on the South Side of Chicago, which will expand solar-powered use in the city
What impact are you making?
I think there is constantly a shock when individuals learn who lags our company. Even in our own neighborhoods, people simply cant think it. To me, thats pretty fulfilling. Individuals seeing whos behind 548 Capital matters.
The other thing that I think is crucial is we have a financial impact that resonates with people, and its a pretty powerful message. Were aiming to cut energy expenses for families in half. Thats a big deal, you understand. That quantity of cash impacts the budget plan of daily families
What challenges do you face? Why?
When I go to banks and state that were constructing sustainable housing 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 coalition building is important.
So what can companies like ACORE do to move that needle for you, to break down that barrier?
Putting individuals in spaces together so everybody can share notes is always valuable. Stabilizing direct exposure, standing next to us and stating “these communities are worthwhile of investment”– you cant put a value on that
How can possible partners work with you?
Now, we are Chicago-focused. We are always searching for partners to invest, provide financial obligation or buy some tax credits, thats the very first ask. We are likewise always ready to host individuals if they want to see a few of the sustainable innovation we are putting in these communities. This is not exclusive; its an open book. We host people once a week at our building so they can see the innovation that were applying in neighborhoods that traditionally have not had access. We are likewise going to be expanding our board. Due to the fact that I think that has real worth, Im constantly tough top executives to put their name and face on these efforts
How was your Accelerate membership benefited you?
Its been fantastic just to satisfy the other Accelerate member companies. I learned a lot from having discussions with them in real-time, and discovering people with completely different perspectives. I enjoy the networking.
I think we are doing the finest we can do in the COVID environment. Feeling in ones bones that it exists, and that ACORE is so intentional about the program, makes a big difference.
By Constance ThompsonAugust 31, 2021
Picture thanks to Pat Nabong/Sun-Times
The American Council on Renewable Energy (ACORE) is delighted to share the 3rd installment in our “Accelerating Renewables” blog series.
Each installation includes market leaders and subjects associated with speeding up an equitable and simply shift to a sustainable energy economy. In acknowledgment of National Black Business Month, our August functions highlight how 3 Black-owned Accelerate member companies are growing in the renewable resource sector.
Robert “A.J.” Patton is a finance, sales, and capital markets professional with more than a decade of experience in financial investment banking, endowment management, and realty analysis. In May 2016, A.J. founded 548 Capital, LLC, to integrate his proficiency and performance history of developing consistent returns with a personal passion for helping transform neighborhoods and their impact on the planet. In 2019, Patton was named a recipient of the Energy News 40 Under 40 award– highlighting his effect on Americas transition to a clean economy.
CHECKED OUT MORE: Up-and-Comer Developer Makes Headway without the Banks ( Chicago Sun-Times, August 27, 2021).
What inspired you to begin your company?
I had 2 pivotal moments that made me jump. In 1999, my mom got a $400 gas bill, and she was only making ten bucks an hour, so we could not afford the gas expense. A lot of people have similar anecdotes, and thats not a great thing
They looked puzzled that I would even attempt ask about the everyday individuals. I think I turned in my resignation within six months of that discussion, and I started my company. I named it 548 Capital because that is the system number in the public housing where I grew up.