Chesapeake Utilities Corporation Completes Commissioning of Full Circle Dairy Renewable Natural Gas Facility in Florida

Rhea-AI Summary

Chesapeake Utilities (NYSE: CPK) has completed its renewable natural gas (RNG) facility at Full Circle Dairy in Lee, Florida. The $22 million facility, which began operations in June 2024, is expected to produce 100,000 dekatherms annually. The project will capture over 1,100 metric tons of methane yearly, equivalent to powering 3,500 homes. Since June, the facility has already produced and injected over 18,000 dekatherms of RNG. The RNG is transported by Marlin Gas Services via virtual pipeline to Yulee, Florida, for distribution in Nassau County.

Positive

• Completed $22 million RNG facility expected to produce 100,000 dekatherms annually
• Already produced and injected over 18,000 dekatherms since June 2024
• Environmental impact equivalent to powering 3,500 homes annually
• Vertical integration across entire energy delivery value chain

Negative

• None.

News Market Reaction

-0.70%

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-0.70% News Effect

On the day this news was published, CPK declined 0.70%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

The innovative RNG production facility showcases Chesapeake Utilities' strategic execution across the entire energy delivery value chain

LEE, Fla., Oct. 30, 2024 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) held a ribbon-cutting ceremony on Monday, Oct. 28, to mark the official completion of its renewable natural gas (RNG) facility at Full Circle Dairy (FCD) in Lee, Florida. The facility, a full-scale dairy manure-to-pipeline-quality RNG operation expected to produce an average of 100,000 dekatherms annually, represents a capital investment of $22 million. The facility began producing RNG in June 2024 and is expected to capture and redirect more than 1,100 metric tons of methane per year into a renewable energy source -- an emission reduction equivalent to powering 3,500 homes for a year.

"The RNG facility at FCD is a great example of our ability to leverage our expertise across the entire energy delivery value chain -- from production to virtual pipeline transportation, injection, transmission and distribution – while supporting our strategic focus on prudent capital deployment," said Jeff Householder, board chair, president and CEO. "We share FCD's commitment to innovative approaches that result in a more sustainable future for customers and our local communities.

FPU Renewables LLC, a subsidiary of Florida Public Utilities (FPU), built and operates the new RNG facility in Madison County, which has produced and injected over 18,000 dekatherms of RNG since June. The RNG is transported by Chesapeake Utilities' subsidiary, Marlin Gas Services, via a virtual pipeline to an injection point in Yulee, Florida, and distributed to customers in Nassau County, Florida.

About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange. Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, virtual pipeline services and solutions, and other businesses. For more information, visit www.chpk.com.

Media Contact:
Alexander Nye
Director, Strategic Communications
(727) 754-0136
ANye@chpk.com

Investor Relations Contact:
Lucia M. Dempsey
Head of Investor Relations
347.804.9067
LDempsey@chpk.com

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SOURCE Chesapeake Utilities Corporation

FAQ

What is the expected annual production of Chesapeake Utilities' (CPK) Full Circle Dairy RNG facility?

The Full Circle Dairy RNG facility is expected to produce an average of 100,000 dekatherms of renewable natural gas annually.

How much did Chesapeake Utilities (CPK) invest in the Full Circle Dairy RNG facility?

Chesapeake Utilities invested $22 million in the Full Circle Dairy RNG facility in Lee, Florida.

When did Chesapeake Utilities' (CPK) Full Circle Dairy RNG facility begin operations?

The Full Circle Dairy RNG facility began producing renewable natural gas in June 2024.

How much methane will the Chesapeake Utilities (CPK) RNG facility capture annually?

The facility is expected to capture and redirect more than 1,100 metric tons of methane per year into renewable energy.