Company: SPH
Filing Date: 2025-11-26
Form Type: 10-K
Source: 0001193125-25-298630
Chunk: 12

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-11-26
Form: 10-K
Item: Item 1
Chunk 12
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  The Partnership owns (directly and indirectly) all of the limited partner interests in the Operating Partnership.  The Common Units represent 100% of the limited partner interests in the Partnership.

Direct and indirect subsidiaries of the Operating Partnership include Suburban Heating Oil Partners, LLC, which owns and operates the assets of our fuel oil and refined fuels business; Agway Energy Services, LLC, which owns and operates the assets of our natural gas and electricity business; Suburban Sales and Service, Inc., which conducts a portion of our service work and appliance and parts business; and Suburban Renewable Energy, LLC (“Suburban Renewable Energy”), which serves as the platform for our investments in innovative renewable energy technologies and businesses.  Our fuel oil and refined fuels, natural gas and electricity, services and renewable energy businesses are structured as either limited liability companies that are treated as corporations or corporate entities (collectively referred to as “Corporate Entities”) and, as such, are subject to corporate level income tax.

On December 28, 2022, Suburban Renewable Energy acquired a platform of RNG production assets (the “RNG Acquisition”) from Equilibrium Capital Group (“Equilibrium”), a leading sustainability-driven asset management firm.  The RNG platform includes the following: (1) a large-scale RNG production facility in Stanfield, Arizona that is currently operating and includes seven anaerobic digesters, manure rights from approximately 55,000 dairy cattle and an interconnect with an interstate pipeline and (2) an operating facility in Columbus, Ohio that is currently receiving tipping fees from several large food and beverage providers for processing food waste into fertilizer and biogas, and has an active development project to upgrade the biogas into RNG for sale.  Also in fiscal 2022, Suburban Renewable Energy entered into an agreement with Adirondack Farms, a family dairy farm located in Clinton County, New York (“Adirondack Farms”) to construct, own and operate a new biodigester system for the production of RNG.  Construction of the assets at Adirondack Farms began during fiscal 2023 and, along with the development projects at our Columbus facility, is expected to come online in the first half of fiscal 2026.

During fiscal 2022, Suburban Renewable Energy acquired a 25% equity interest in Independence Hydrogen, Inc. (“IH”), a veteran-owned and operated, privately held company developing a gaseous hydrogen ecosystem to deliver locally sourced hydrogen to local markets, with a primary focus on material handling and backup