Chesapeake Utilities Corporation Grows Energy Network to Meet Demand
Chesapeake Utilities Corporation Enhances Energy Network
Chesapeake Utilities Corporation (NYSE: CPK) is embarking on an exciting journey to expand its energy infrastructure. This strategic move is taking place through its Ohio subsidiary, Aspire Energy Express, LLC, which has recently entered into an agreement with American Electric Power (AEP). This partnership aims to construct and operate a natural gas pipeline designed specifically to support a new fuel-cell facility. This facility will, in turn, provide on-site electric power to a cutting-edge data center.
Responding to Growing Demand for Data Infrastructure
With the surge in demand for distributed data infrastructures, investments in data centers are accelerating at an unprecedented rate. American Electric Power is at the forefront of meeting these energy requirements by developing tailored solutions for its customers.
Chesapeake's Investments in Energy Solutions
Chesapeake Utilities has long been a pioneer in energy infrastructure, operating various subsidiaries focused on delivering natural gas to a wide array of customers, including residential, commercial, and industrial sectors. The Aspire Energy Express project represents a significant capital investment of around $10 million. This project is set to provide reliable natural gas essential for powering on-site electricity generation at the new data center, expected by mid-2027.
Strategic Growth and Infrastructure Development
Jeff Sylvester, senior vice president and chief operating officer of Chesapeake Utilities Corporation, emphasizes that this initiative reflects their dedication to growth: "This project is a clear example of how Chesapeake Utilities Corporation continues to execute on our growth strategy by leveraging our core capabilities — new business development, transmission project construction, and customer-focused energy solutions." Through their collaboration with AEP, Chesapeake Utilities is deploying capital strategically to ensure the infrastructure can meet rising energy demands in key regions.
About Chesapeake Utilities Corporation
As a diversified energy delivery company, Chesapeake Utilities Corporation stands proudly listed on the New York Stock Exchange under the symbol CPK. The company is committed to offering sustainable and innovative energy solutions encompassing natural gas transmission and distribution, electricity generation, propane gas distribution, and more, ensuring reliable service across its operational landscape.
About Aspire Energy Express
Founded in 2020, Aspire Energy Express, LLC (AEX) is a wholly owned subsidiary of Chesapeake Utilities Corporation, specifically focused on intrastate pipeline operations. AEX operates within a landscape characterized by a skilled workforce, competitive business costs, and abundant regional resources, aiming to enhance natural gas infrastructure throughout the area.
Media and Investor Contacts
If you require further information, you can reach out to:
Media Contact:
Alexander Nye
Director, Strategic Communications
727.754.0136
ANye@chpk.com
Investor Contact:
Lucia M. Dempsey
Head of Investor Relations
347.804.9067
ldempsey@chpk.com
Frequently Asked Questions
1. What is the purpose of the new pipeline construction?
The new pipeline is designed to provide natural gas to a fuel-cell facility that powers a new data center, supporting increased energy demands.
2. How much is Chesapeake Utilities investing in this project?
Chesapeake Utilities is investing approximately $10 million in the Aspire Energy Express pipeline project.
3. When is the data center expected to be operational?
The new data center is anticipated to begin operations in the first half of 2027.
4. What role does AEP play in this initiative?
AEP is working alongside Chesapeake Utilities to facilitate the project's energy needs through their established solutions.
5. How can I learn more about Chesapeake Utilities Corporation?
For additional details, you can visit their official website and explore their diverse energy solutions and infrastructure developments.
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