Suburban Propane, the Whippany-based fuel distributor, has made green energy a centerpiece of its corporate strategy. The most recent manifestation of that focus is the company’s acquisition of a 39 percent stake in Oberan Fuels, an alternative fuel producer based in San Diego. The companies’ CEOs, Michael Stivala of Suburban Propane and Oberon’s Rebecca Boudreax, met at an industry conference in Washington, D.C. and realized that there was a fit.
In the latest iteration of NJBIZ Conversations, Editor Jeff Kanige spoke both executives about how they intend to work together and what each company will get out of the partnership.
“About a year and a half ago we launched what we call Go Green with Suburban Propane, which had two tenets to it,” Stivala said. “One is advocacy work to get the word out about propane, as it is today because it can be a somewhat forgotten source of energy. … The second tenet is that if you say that, you have to be willing to innovate, have to be willing to invest in the next wave of innovative solutions to further reduce the carbon intensity of the product we love so much here at Suburban Propane. … And so, yes, we’re trying to be the pioneer in our industry.” Watch the full interview here.