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MarketScreener Homepage  >  Equities  >  Nyse  >  Chesapeake Utilities Corporation    CPK

CHESAPEAKE UTILITIES CORPORATION

(CPK)
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Chesapeake Utilities : Sharp Energy Receives Industry Award for Support of Alternative Fuels

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08/14/2019 | 04:42pm EDT

August 14, 2019

DOVER, DE- Chesapeake Utilities Corporation (NYSE: CPK) announced today that its propane subsidiary, Sharp Energy, Inc., was recently selected by the Eastern Pennsylvania Alliance for Clean Transportation (EP-ACT) as a recipient of its Industry Support Award. Sharp Energy was nominated and selected by EP-ACT's nominating committee to receive the award for Sharp's support of alternative fuels and technologies. EP-ACT is one of nearly 90 coalitions in the U.S. sponsored by the U.S. Department of Energy (DOE) Vehicle Technologies Program.

The Industry Support Award recognizes Sharp for immediate and consistent action in placing alternative fuel vehicles, fuel supply or technologies on the road within EP-ACT's territory and for promoting the entire alternative fuel industry.

'We are strongly committed to operating our business in the most environmentally responsible manner and that's what our customers want from us,' said Andy Hesson, Vice President of Sharp Energy. 'This award highlights our focus on sustainability by offering our customers a clean and reliable alternative vehicle fuel such as AutoGas.

Propane AutoGas is a cost-efficient, flexible, alternative fuel solution for light to medium duty vehicles. Propane is a cleaner burning fuel than gasoline, resulting in a 60 percent reduction of carbon dioxide in AutoGas powered vehicles. With 48 AutoGas stations in operation in Delaware, Maryland, Virginia, Pennsylvania and Florida, Sharp Energy has deployed 87 propane-powered vehicles within its own fleet displacing approximately 155,000 gallons of gasoline annually.

About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution and transmission; electricity generation and distribution; propane gas distribution; and other businesses. Information about Chesapeake Utilities Corporation's businesses is available at www.chpk.com, through the Company's Investor Relations App and on the Annual Report Microsite at cpkannualreport.com.

About Sharp Energy
Sharp Energy, headquartered in Georgetown, DE, distributes propane to approximately 42,000 residential, commercial and industrial customers in Maryland, Delaware, Virginia and Pennsylvania. With four rail facilities and over three million gallons of propane storage, Sharp Energy has established a solid supply portfolio. Sharp Energy is a partner of Alliance AutoGas, a national network of companies that have joined together to deliver a comprehensive alternative fueling solution including EPA-certified propane AutoGas vehicle conversions, on-site fueling infrastructure, fuel supply, safety and operational training, and ongoing technical support. Sharp is also partnering with its Florida propane operation to deliver AutoGas solutions in Florida. To learn more about Sharp Energy, visit www.sharpenergy.com.

Please note that Chesapeake Utilities Corporation is not affiliated with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.

# # #

For more information, contact:

Justin Mulcahy
Public Relations Manager
302.217.7011
jmulcahy@chpk.com

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Disclaimer

Chesapeake Utilities Corporation published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 20:41:10 UTC

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Sales 2019 756 M
EBIT 2019 108 M
Net income 2019 63,3 M
Debt 2019 -
Yield 2019 1,67%
P/E ratio 2019 25,0x
P/E ratio 2020 23,9x
Capi. / Sales2019 2,06x
Capi. / Sales2020 1,86x
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