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Chesapeake Utilities Corporation Expands Energy Infrastructure in Ohio to Support New Data Center

1. Chesapeake's Aspire Energy to build Ohio natural gas pipeline with AEP. 2. Project aims to support a new data center's energy needs. 3. Investment from the project is approximately $10 million. 4. Expected service delivery from the pipeline is set for first half of 2027. 5. Reinforces CPK’s strategy in growth and infrastructure expansion.

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Why Bullish?

This pipeline project adds strategic growth and potential revenue streams for CPK. Past similar developments led to significant stock price increases for utility companies.

How important is it?

The agreement with AEP signifies a crucial expansion, likely to enhance CPK's profitability. Given the growing demand for energy, this investment is significant.

Why Long Term?

The project's completion in 2027 indicates a longer timeline for revenue realization. Historical precedence shows that infrastructure expansions often yield benefits over several years.

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AEPDTEOGE
, /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) announced today that its Ohio subsidiary, Aspire Energy Express, LLC, has entered into an agreement with American Electric Power (AEP) to construct and operate an intrastate natural gas pipeline in central Ohio to serve a new fuel-cell facility, which will provide on-site electric power to a data center. As demand for distributed data infrastructure continues to rise, investments in data centers have accelerated. AEP is playing a leading role in supporting these developments by providing solutions to customers to meet their increasing power requirements. Chesapeake Utilities operates multiple energy infrastructure subsidiaries throughout its footprint, enabling the transmission and distribution of natural gas to end-use residential, commercial and industrial customers. The new Aspire Energy Express transmission infrastructure represents a capital investment of approximately $10 million and is expected to deliver reliable natural gas to power on-site electricity generation to the new data center in the first half of 2027. "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," said Jeff Sylvester, senior vice president and chief operating officer of Chesapeake Utilities Corporation. "Through our work with AEP, we're deploying capital to deliver infrastructure needed to support energy demand in high-growth regions of Ohio." About Chesapeake Utilities CorporationChesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange (NYSE:CPK). Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions and other businesses. For more information, visit www.chpk.com. About Aspire Energy ExpressFounded in 2020, Aspire Energy Express, LLC (AEX), a wholly owned subsidiary of Chesapeake Utilities Corporation, is an intrastate pipeline company operating in Ohio. With the state's strong workforce, low business costs and abundant resources, AEX is committed to expanding natural gas infrastructure and investments to provide efficient, affordable and reliable energy statewide. Learn more at www.aspireenergyco.com. Media Contact Alexander NyeDirector, Strategic Communications727.754.0136[email protected] Investor Contact Lucia M. DempseyHead of Investor Relations347.804.9067[email protected] SOURCE Chesapeake Utilities Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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