Black-owned Petroleum company lands multi-million dollar deal with the city of Detroit

Theodora Aidoo Jan 16, 2020 at 02:00pm

January 16, 2020 at 02:00 pm | Success Story

Theodora Aidoo

Theodora Aidoo | Staff Writer

January 16, 2020 at 02:00 pm | Success Story

ACE Petroleum Founder and CEO Moses Shepherd - Pic Credit: Moses Sheperd

In 2017, Moses Shepherd, founder and CEO of ACE Petroleum ventured into the fuel industry and launched his company which has become Michigan’s only Black-owned fuel supplier.

The Detroit-based national fuel supplier has recently secured a five-year multi-million dollar deal with the city of Detroit with an initial amount of $27 million.

“The city’s confidence in our abilities to deliver the comprehensive fuel services needed to support, protect and serve Detroiters is rewarding and validates our efforts. This is a major milestone for ACE Petroleum and my hometown. We’ve worked hard for two years to grow our competencies, quality metrics, and infrastructure to service large municipalities and compete on a national level,” Shepherd said.

Detroit City Council President Brenda Jones noted that the council is committed to working to ensure the growth of Detroit-based minority-owned businesses.

“ACE Petroleum will provide fuel services in support of essential departments such as police, fire, and EMS. This partnership helps to reinforce the procurement goals I sponsored in 2018 to engage Detroit entrepreneurs and businesses,” Jones stated.

ACE is the first Black and minority-owned company to ever provide fuel supply services to the city’s fleet of vehicles including police cars, fire trucks, buses, emergency medical services and other on-road and off-road transportation units.

Image result for ACE petroleum
Pic Credit: acepetroleummi.com

The Detroit native aims to provide an array of fuel services for municipalities, government agencies and commercial end-users. He hopes to secure contracts with other major cities such as Atlanta, Baltimore, Chicago, and Houston.

He said his vision is to become a respected minority supplier to Fortune 500 companies throughout the United States.

For Shepherd, “this win provides a model and business case for us to present our experience and capabilities to large municipalities across the country that are looking to increase their minority spend with reliable, quality-driven service providers.”

With a national fuel distribution network logistics team who has more than 35 years of experience, ACE Petroleum has 452 fuel delivery trucks.

Image result for ACE petroleum
Pic Credit: streetinsider.com

Born on June 25, 1965, through his company, Shepherd assists hundreds of families to eradicate homelessness.

Prior to ACE petroleum in May 2017, Shepherd focused on his real estate company Ace Investment Group, LLC, which he founded in June 2003. He initially refurbished historic properties but has since broadened his portfolio.

Over the years, the company has bought hundreds of duplexes, single and multi-family homes, and apartment building units. His company exclusively purchases properties in the city of Detroit. Ace Investment buys, renovates, holds and leases its properties.

Today, the ACE Investment Group represents the largest African American owned apartment portfolio in the city of Detroit as well as the largest housing provider for local nonprofit agencies in the City.

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