Affordable Community Energy Services Company (ACE) offering is now closed and is no longer accepting investments.

INVEST IN AFFORDABLE COMMUNITY ENERGY SERVICES COMPANY (ACE) TODAY!

Sustainability for Low-Income Housing

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
Affordable Community Energy Services Company (ACE)

$22,500.00 Raised

REASONS TO INVEST

ABOUT

HEADQUARTERS

180 N. Michigan Avenue Suite 2405
Chicago, IL 60601
VALUATION

$2.49M

TEAM

Jeff Greenberger
Jeff Greenberger
Director, CEO and President

Jeff founded Affordable Community Energy Services Company (“ACE”) in July 2016 becoming its President, CEO and Director. From January 2012 until June 2016, he was the Chief Operating Officer of Affordable Community Energy, Inc., a subsidiary of Hispanic Housing Development Corporation, a non-profit owner/developer of affordable housing ("HHDC"). The "ACE Model" was developed while Jeff was working for HHDC. Jeff leads all efforts at ACE, with a focus on financing, and client acquisition and service. Prior to ACE, Jeff worked at Jones Lang LaSalle from 1984 to 2001 where, among other things, he co-founded and co-led JLL’s Public Sector practice. Jeff worked for Deutsche Bank in New York from 2002 to 2006 as Head of Strategic Planning/Real Estate—Americas and AsiaPacific, and then as Global Head of CRES Corporate Planning. He attended Northwestern University and received his law degree at Columbia University Law School. Jeff has served on the Boards of Hispanic Housing Development Corporation, Facing History and Ourselves and The Institute for Clinical Social Work. He is a frequent speaker at national conferences on energy and water conservation and renewable energy improvements for affordable housing and a tireless proponent of the ACE Mission.

Dan Greenberger

Dan Greenberger

Chief Innovation Officer

Dan’s commitment to ACE’s mission and market comes naturally through his environmental and nonprofit work. He co-founded a consultancy to help organizations reduce, reuse and recycle through an innovative behavioral change process. He has facilitated strategic planning and led branding efforts for a number of socially focused nonprofit organizations. He has trained organizations in innovation. Dan’s role is to provide communications, branding and innovation services that advance the missions of ACE and its clients.

Rachel Liu

Rachel Liu

Project and Marketing Manager

Rachel Liu has a passion for communications and social causes. Previously she worked for international PR agencies - MSL and Burson-Marsteller in Beijing, and then pursued a master degree in Integrated Marketing Communications at Northwestern University. Her role at ACE is to execute campaign communications and to oversee investor relations, and operation and administration of the company. In her spare time, Rachel enjoys experiencing different cultures, making art and learning languages.

Jeffrey Perlman

Jeffrey Perlman

President of Bright Power (Technical Advisor)

Jeffrey Perlman is the President and Founder of Bright Power (www.brightpower.com). He spends his days solving the most challenging energy problems facing building owners today. An experienced energy auditor, energy analyst and solar-energy-system designer, Jeff is as happy in a boiler room or on a rooftop as he is in a corporate boardroom. Jeff is a Certified Energy Manager (CEM), LEED AP, and a BPI Multifamily Building Analyst. Bright Power provides ACE with technical, benchmarking, audit and construction management services in the Northeast and Mid-Atlantic regions and California. In addition to his work at Bright Power, Jeff is adjunct faculty at NYU and the City University of New York (CUNY) and serves on the board of the New Alternatives Fund, a mutual fund that invests in renewable energy.

Trenton Allen

Trenton Allen

CEO of Sustainable Capital Advisors (Financial and Capital Advisor)

Trenton Allen founded Sustainable Capital Advisors (SCA) in 2012 to meet the challenges of public and private sector organizations seeking to implement innovative solutions for the sustainable infrastructure industry. SCA provides ACE with investment banking services (finding and closing on the capital required by ACE, primarily on the debt side) and general financial advices. He leads SCA’s business development and client engagement activities with governments, utilities, developers, and investors. Trenton uses his nearly twenty years of experience in the energy and capital markets professional not only in service to his clients but also in his role as an adjunct professor at the University of Delaware, Center for Energy and Environmental Policy.

Madelyn Greenberger

Madelyn Greenberger

Director, Vice President and Secretary

Madelyn is a Licensed Clinical Social Worker, with private practice in Chicago, Illinois, providing long-term psychoanalytic psychotherapy to adults, adolescents, children and couples. She has practiced alone, but has done business from 1977 until the present as Psychotherapy Associates of which she has been the sole owner. She has been a Director and Vice President and Secretary of ACE since its inception in July 2016. She has a Bachelor of Arts in Sociology and Psychology from Northwestern University in Evanston, Illinois, a Master of Science in Social Work from the Columbia University School of Social Work in New York, New York, A Certificate for Advanced Training from the Chicago Institute for Psychoanalysis, Child of Adolescent Psychoanalytic Psychotherapy Program, Chicago, Illinois, and Advanced Training from the National Institute for the Pyschotherapies in New York. Madelyn is an owner of ACE and, as such, her role is to provide guidance and grounding to her husband, Jeff, calling on her long experience as an entrepreneurial service provider.

TERMS

Affordable Community Energy Services Company (ACE)
Overview
PRICE PER SHARE
$50
DEADLINE
Jan 26, 2018
VALUATION
$2.49M
AMOUNT RAISED
$22,500.00
Breakdown
MIN INVESTMENT
$250.00
MAX INVESTMENT
$100,000.00
MIN NUMBER OF SHARES OFFERED
200
OFFERING TYPE
Equity
ASSET TYPE
SHARES OFFERED
MAX NUMBER OF SHARES OFFERED
20,000

Maximum Number of Shares Offered subject to adjustment for bonus shares

Maximum 20,000  shares of Class B Common Stock ($1,000,000)

Minimum 200 shares of Class B Common Stock ($10,000)


Company
Affordable Community Energy Services Company
 

Corporate Address
180 N. Michigan Avenue, Suite 2405, Chicago, IL 60601
 

Description of Business
An energy services company (ESCO) providing broad-based energy efficiency, water conservation and renewable energy retrofit improvements to the owners of multifamily low-income ("affordable") housing.
 

Type of Security Offered
Shares of Class B Common Stock (the "Shares", or the "Securities")
 
Purchase Price of Security Offered
$50
 

Minimum Investment Amount (per investor)
$250











Unless required by applicable law, no holder of Class B Common Stock shall have any voting right or power in respect of Class B Common Stock, and no holder of Class B Common Stock shall be entitled in respect of Class B Common Stock to notice of any stockholders’ meeting; provided, that no amendment of the Second Amended and Restated Articles of Incorporation of the Company (the “Restated Articles”) that adversely affects the rights of holders of Class B Common Stock as set forth in  Article 5 of the Restated Articles of Incorporation (other than any amendment that proportionally affects the rights of holders of the Class A Common Stock in the same manner) shall become effective unless it shall have been approved by vote of holders of more than 50% of all outstanding shares of Class B Common Stock, voting as a separate class on the basis of one vote per share of Class B Common Stock held.

If ACE completes this offering of shares of Class B Common Stock with the sale of the minimum number of the shares of this offering (200 shares), then ACE will at the time of the completion of the offering have the following capital structure:

Class A Common Stock (voting): 45,000 shares owned directly and indirectly (through Greenberger Holding LLC) by Jeffrey Greenberger and his spouse.

Class B Common Stock (non-voting): 200 shares to be owned by purchasers in this offering

Convertible Note Holders: 4,712 shares of Class A Common Stock issuable on conversion of notes owned by prior investors

Irregular Use of Proceeds

The Company might incur Irregular Use of Process that may include Salary and other personnel-related payments to its President, repayments of project-related advances made by the President, payments for marketing and strategic advisory services to the President’s brother and to repay the principal and interest due on a portion of the Convertible Promissory Notes that have been purchased by relatives of the President and Madelyn Greenberger, his spouse. See Related Party Transactions above.

PRESS

Article Image
Financing Renewables in Multifamily - Better Buildings Challenge

Jeff Greenberger, as COO of ACE Inc., the Hispanic Housing Development Corporation subsidiary that pioneered ACE’s model, addressed on the Economics of Solar ESCOs at a webinar hosted by U.S. Department of Energy (DOE).

Article Image
2016 ACEEE Energy Efficiency Finance Forum

Jeff Greenberger, as COO of ACE Inc., the Hispanic Housing Development Corporation subsidiary that pioneered ACE’s model, participated in a panel discussion titled Financial Product Innovation: Maturing Products and Growing Demand.

Article Image
Made to Fit: How Paid-From-Savings Projects Can Work for Small Organizations, Too

Jeff Greenberger, as COO of ACE Inc., the Hispanic Housing Development Corporation subsidiary that pioneered ACE’s model, spoke at a webinar hosted by U.S. Department of Energy (DOE).

Article Image
Greenbuild International Conference and Expo 2014

At this panel discussion, Jeff Greenberger, as COO of ACE Inc., the Hispanic Housing Development Corporation subsidiary that pioneered ACE’s model, described how a mission-driven energy solution company can be a source for the payment of all of the costs of a comprehensive energy and water efficiency retrofit.

Article Image
Multifamily Housing at Continental Plaza, Chicago

Continental Plaza is an example of how energy and water upgrades can help preserve affordable housing while reducing carbon emissions and conserving natural resources. Using ACE, Inc.’s innovative, mission-driven energy service company model, Continental Plaza reduced its annual utility costs by over $47,000 under the shared-savings agreement—a 15 percent utility cost reduction. A building owner who receives all of the energy and water cost savings could have seen its 2014 utilities reduced by as much as $109,282. (Note: ACE Inc. was the Hispanic Housing Development Corporation subsidiary that pioneered ACE’s model and of which Jeff Greenberger was COO at the time.)

ALL UPDATES

01.24.18

Don't Miss the Day

Dear investors and followers,


We are approaching the end of ACE's crowdfunding campaign! This is your last chance to be part of ACE’s mission to help low-income housing communities and the planet.

ACE is more than thankful for your emotional support, yet we do hope to get your monetary investment, too. As we continue with the $6 million project with Mercy Housing in the coming year and expect a financial return, a substantial working capital would help us to make sure that we deliver the best service. This means that every investment you make would be of great value to ACE and our mission!

Please take this last chance and invest in ACE today.

We appreciate your help.


Sincerely,

The ACE Team

01.23.18

Time is running out. Invest in ACE now!

Dear StartEngine Followers,


Thank you for being a part of ACE's crowdfunding campaign over the past few months. We are heartened by your interest in improving lives for low-income communities and for protecting our environment—which, as you know, is at the heart of ACE's work. We are closing our campaign in TWO days! That’s two days left for you to invest in ACE and put your money where your values are!

As a mission-driven energy services company providing comprehensive green retrofits to low-income housing, ACE has completed important work over the past few years. Happily, ACE just obtained a commitment for a $3 million financing commitment for our $6 million California project. But it has been a long haul and we still need to increase our working and growth capital. We hope you will continue to be part of the ACE family. Your support, both emotionally and monetarily, is greatly appreciated. Our minimum investment amount is only $250, but please give more if you can. 

Feel free to leave us a comment if you have any questions.

ACE appreciates your support.

 

Sincerely,

The ACE Team

01.16.18

ACE secured $3 million loan to proceed with the Mercy Project

Dear investors and followers,


We have tremendous news to report: ACE has found its financial partner! As a result, we will be able to deliver meaningful sustainable benefits to approximately 6,000 units of low-income housing and the odds that this investment will be financially rewarding have greatly increased.

The Loan Committee of the Reinvestment Fund has approved a $3 million loan to ACE that will allow us to complete the comprehensive retrofit of approximately 90 multifamily affordable housing properties owned by Mercy Housing in California.

This loan approval will have several game-changing impacts:

  • Reinvestment Fund is making this loan in part because it believes that this will be a new line of business; it is not only prepared, but expecting, to make additional loans to ACE for future projects. It appears that we have finally found our “checkbook.”
  • ACE will be receiving substantial and sustainable revenue generated by the Mercy Project.
  • Obtaining this loan and the long-term commitment from Reinvestment Fund substantially reduces the risks associated with your investment in ACE.
  • By completing this loan and commencing the Mercy Project, ACE will have demonstrated to other owners of multifamily affordable housing that ACE can deliver, which will make future business development easier.

We are extremely excited about 2018 and beyond as a result of this news. For those of you who have invested in ACE, we thank you for your support; we couldn’t have gotten here without you. And for those of you who haven't, we welcome you to be part of ACE's future. Please consider investing in ACE and share this opportunity with people who have the same passion as us. We appreciate your help.

For more details about the loan approval, please read at www.affordablecommunityenergyservices.com/unique-3-million-loan-benefits-low-income-families-environment/.


Sincerely,

ACE Team


01.10.18

ACE Joins DOE Residential Network

Happy New Year investors!


At the beginning of this year, ACE has a list of exciting news to share with you. And here is the first one:


ACE has become a new member of the U.S. Department of Energy (DOE) Better Buildings Residential Network, which connects energy efficiency programs and partners to share best practices and learn from one another to increase the number of homes that are energy efficient.


ACE will benefit immediately by receiving access to monthly topical calls with peers about residential energy efficiency strategies. Calls have discussed business partners and workforce development, marketing and outreach, evaluation and data collection, financing, moderate- and low-income markets, and so on.


Joining the Network will provide ACE more opportunities to establish itself in the energy efficiency industry and to jointly work with other organizations to make affordable housing affordable and the planet livable.


For more details, please read the press release at: https://www.affordablecommunityenergyservices.com/affordable-community-energy-services-company-joins-doe-residential-network/

12.20.17

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Affordable Community Energy Services Company (ACE) has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Affordable Community Energy Services Company (ACE) be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

12.06.17

We reached our minimum funding goal!

Recently, with the help of our investors, we passed our initial goal of $10,000! We thank you for supporting our mission.

Still there's plenty of work to do.

If you haven't invested yet, please consider doing so.

If you have invested, please spread the words for us and urge your friends to do so, too.

Doing good to the low-income housing communities and our environment requires a lot more than what we have now.

And there are less than 2 months left for our campaign.

We need your help more than ever!

11.14.17

ACE is making exciting progress and calling for more support!

Welcome to our new investors and followers. To all of you, thank-you for supporting ACE’s mission to help low-income housing communities and to protect the environment!  Now that you are part of ACE's movement, we want to keep you updated on our work:

•  Crowdfunding Progress, but a Long Way to Go.  After launching our crowdfunding campaign, we've received additional investments and commitments of almost $20,000 from more than 15 investors. We are still waiting for some investors to finalize their investments on the StartEngine platform, but with all the commitments, we are exceeding the minimum funding goal set with the platform. But this was an arbitrary minimum, we have as our goal to raise between $200,000 and $500,000 to provide the additional liquidity that will be required as ACE moves on to new projects.

•   Term Sheet with A Project Lender. The good news is that we have signed a Term Sheet with the Reinvestment Fund to provide the project loan for the $5.5 million Mercy California Project.  While we still have details to iron out, RF is aiming for a loan committee meeting in late November.  We are working diligently, and hope to close the loan by early in 2018.

•   More Visibility for ACE’s Work.  ACE has been cited as an industry pioneer, tapping into social impact investors like you to help fund energy efficiency for low-income housing. Check out the press coverage here.

We are very positive about our progress in our core business and in the preliminary results of our crowdfunding campaign, but we still have an urgent need to raise additional funds to provide the liquidity required to strengthen ACE’s balance sheet. This will help us reach more low-income individuals and families and to grow our business.

Please join us in the cause and share your support with those whom you think our mission might resonate. And if you haven’t yet invested, please do so now.

Thank you for being part of GOOOD to the Power of ThreeTM.

JOIN THE DISCUSSION













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RAISED
$22,500.00
INVESTORS
34
MIN INVEST
$250.00
VALUATION
$2.49M

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