ACE Petroleum just obtained a $27 million contract with Detroit to supply fuel services for the city’s police cars, fire trucks, buses, emergency medical vehicles, and other transportation units for this year through 2025. ” We have cutting edge technology that sets us apart from our competitors and distinguishes us from being just a fuel provider.” The company’s workforce has tripled, growing from three in 2017 to 12 now. Shepherd says his firm is now pursuing other fuel contracts with large municipalities, companies, and corporations nationwide. “Our strategy for market share growth is based on maximizing this niche in the fuel industry.”. The company buys fuel from Atlas Oil Co. based in Taylor, Michigan. Women of Power TECH, PODCASTS playerId: '7a99bbff-ee60-489a-b377-212102e8a9a1' Black Men XCEL About Procurement Services supports Planet Blue and the university’s overall sustainability goals by developing strong partnerships with suppliers who have environmental stewardship programs. “It was a pleasure working with the city of Detroit’s professional procurement organization led by Chief Procurement Officer Boysie Jackson.”. And the $27 million contract amount is an initial number that could rise based on fuel demand. The firm focuses on buying properties in Detroit and is now among the city’s largest black-owned apartment operators with more than 1,000 units. Contact Entrepreneurs Summit }).render('36f26b9bfc7c4b75b62dd096b3ffa5ae'); Our supplier diversity program supports the university’s goal by fostering partnerships between small, diverse, and local businesses and university departments on all three campuses. ACE Petroleum Founder and CEO Moses Shepherd says his goal is to strategically leverage this opportunity to pursue similar fuel contracts with other major cities, including Atlanta, Baltimore, Chicago, and Houston to name a few. The University of Michigan is committed to enhancing economic opportunities for minority-owned, women-owned, and disadvantaged businesses. “The deal validates our capabilities to be a minority-owned, quality-driven fuel provider for large municipalities, companies, and corporations across the country,” Shepherd says. This partnership helps to reinforce the procurement goals I sponsored in 2018 to engage Detroit entrepreneurs and businesses.”, Shepherd applauded the city of Detroit’s procurement department. ACE Petroleum’s clients include Kiewit Construction in Lenexa, Kansas, and Barton Malow Co. in Southfield, Michigan. © 2020 Regents of the University of Michigan. ABOUT The five-year contract calls for ACE Petroleum to provide Detroit with over 2 million gallons of fuel per year. Shepherd says providing excellent customer service is helping the company confront those issues. Shepherd says the company’s biggest challenges are overcoming barriers by being a new, minority-owned fuel company. BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Michigan Minority Procurement Council (MMPC) MMPC is the nation's third-largest conference of its kind for supplier diversity and the region's largest, focusing on connecting national and local corporations with the top minority business enterprises (MBEs) in Michigan Both of Shepherd’s businesses are housed in a 13,000-square-foot building he owns in Detroit. Detroit officials say the deal shows their commitment to work with diverse suppliers. The program increases diversity within our vendor base by offering opportunities to small businesses. But it all hasn’t been a walk in the park. cnx.cmd.push(function() { Women of Power Summit Registry of Corporate Directors. The university, under the “Planet Blue” program umbrella, has made sustainability a key focus area. Our supplier diversity program supports the university’s goal by fostering partnerships between small, diverse, and local businesses and university departments on all three campuses. Hosting the Michigan Minority Supplier Development Council's Project One module for businesses to network and discuss business developments. Your Money, Your Life, LATEST LISTS B.E. BE 100s Since 1970, BLACK ENTERPRISE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. Partnership Solutions We have ambitious goals in four areas: climate action, waste prevention, healthy environments, and community awareness. !function(n){if(!window.cnx){window.cnx={},window.cnx.cmd=[];var t=n.createElement('iframe');t.display='none',t.onload=function(){var n=t.contentWindow.document;c=n.createElement('script'),c.src='//cd.connatix.com/connatix.player.js',c.setAttribute('async','1'),c.setAttribute('type','text/javascript'),n.body.appendChild(c)},n.head.appendChild(t)}}(document); The company reported it had $6 million in revenue for 2019 and projects revenue of $15 million in 2020. Masthead, Commitment Counts sponsored by Fifth Third Bank, Detroit City Council President Brenda Jones, Spike Lee and The Obamas to Release Netflix Projects in 2020, Chicago Mayor Wants to Grow Marijuana in City-Owned Co-op. SistersInc. He also has a bullish outlook on the company’s growth prospects, projecting annual revenue of $50 million within a couple of years He anticipates the increased business will come from ‘”new contracts and opportunities we’re currently exploring and incremental growth from current customers.”. cnx({ INFORMATION Other clients include Detroit-based Ideal Contracting and Cassens Transport Co. in Illinois. Promoting the value of working with diverse suppliers by sharing best practices, webinars and presentations. ACE Petroleum is a certified Minority Business Enterprise by the Michigan Minority Supplier Development Council and National Minority Supplier … In that job, he claims he ran eight stores, managed 100 employees, and helped the outlets return to profitability. 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