Suburban Propane Partners, L.P. Announces Deal to Acquire 25% Equity Stake in Independence Hydrogen
March 10, 2022 | 5 min read March 10, 2022 | 5 min readA Start-up Hydrogen Supplier
WHIPPANY, N.J. — Suburban Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of propane, renewable propane, and other energy sources; including low carbon alternatives, today announced it purchased a 25% equity stake in Independence Hydrogen, Inc., a veteran-owned and operated supplier of gaseous hydrogen solutions, for $30.0 million. The Partnership also announced the creation of a new subsidiary, Suburban Renewable Energy, LLC, as part of its long-term strategic goal of building out a renewable energy platform.