Chesapeake Utilities Corporation Expands Energy Infrastructure in Ohio to Support New Data Center
Rhea-AI Summary
Chesapeake Utilities Corporation (NYSE:CPK) has announced a strategic infrastructure expansion through its Ohio subsidiary, Aspire Energy Express, LLC. The company has partnered with American Electric Power (AEP) to construct and operate an intrastate natural gas pipeline in central Ohio.
The project, representing a $10 million capital investment, will serve a new fuel-cell facility providing on-site electric power to a data center. The infrastructure is expected to be operational in the first half of 2027, supporting the growing demand for distributed data infrastructure and AEP's commitment to providing power solutions for customers.
Positive
- New $10 million capital investment project in high-growth Ohio region
- Strategic expansion into data center infrastructure market
- Partnership with major utility company American Electric Power
- Project leverages company's core capabilities in transmission infrastructure
Negative
- Long implementation timeline with operations starting in 2027
News Market Reaction 1 Alert
On the day this news was published, CPK gained 0.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
"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
About Chesapeake Utilities Corporation
Chesapeake 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 Express
Founded in 2020, Aspire Energy Express, LLC (AEX), a wholly owned subsidiary of Chesapeake Utilities Corporation, is an intrastate pipeline company operating in
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
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SOURCE Chesapeake Utilities Corporation
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