Dover, Delaware – Sharp Energy, Inc., the largest propane retailer on the Delmarva Peninsula and a subsidiary of Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities), announced today that it has constructed and placed into service an AutoGas propane fueling station for fleet vehicles located near the Baltimore/Washington International (BWI) Airport. Airport shuttles, school bus companies, and commercial fleets can use this new fueling station to power their fleets with propane, a preferred alternative fuel option that reduces emissions and yields savings.
“We’re excited to add this propane fueling station to the Company’s growing network of clean, reliable and affordable energy options,” said Elaine B. Bittner, Chief Operating Officer of Sharp Energy, Inc. “Our AutoGas stations support Chesapeake Utilities’ environmental initiatives in supplying propane, a clean burning alternative fuel, to the rapidly growing number of fleet vehicles in the area.”
MBG Enterprise, a Baltimore area school bus company that has already begun using the new AutoGas station to power ten school buses, will be displacing more than 30,000 gallons of diesel a year. The company has recently added eight additional propane AutoGas-fueled buses for the start of the 2017-2018 school year.
“My family and I have been in the transportation industry for decades and we are always looking for innovative ways to make our business better,” said Mitch Gunther, owner of MBG Enterprise. “We decided to make the switch to propane-powered buses last year and we could not be happier. The simplicity of fueling and the expertise Sharp Energy has in their infrastructure is fantastic; their customer support is second to none, another reason we decided to procure more propane buses this year. I look forward to working with Sharp Energy for years to come as we transition our school bus fleet.”
Propane reduces carbon monoxide emissions up to 60 percent compared to diesel on a life-cycle basis while reducing smog-producing hydrocarbons by an estimated 80 percent. Substantial economic savings are achieved through fuel and maintenance cost savings. Historically, customers that have converted vehicles to propane AutoGas have saved $1.00 or more on each gallon of propane as compared to gasoline.
Sharp Energy has a dozen AutoGas stations operating in Delaware, Maryland, and Pennsylvania. “Propane Autogas is the highest grade of commercial propane, and is the most widely used alternative to gasoline and diesel fuel in the world because of its clean, domestic and economic benefits,” stated S. Robert Zola, President of Sharp Energy,
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution, transmission, gathering and processing, and marketing; electricity generation and distribution; propane gas distribution; and other businesses. Information about Chesapeake Utilities Corporation’s businesses is available at www.chpk.com or through our IR App.
About Sharp Energy
Sharp Energy, headquartered in Georgetown, Delaware, distributes propane to approximately 38,000 residential, commercial and industrial customers in Maryland, Delaware, Virginia and Pennsylvania. With four rail facilities and over 2,500,000 gallons of propane storage, Sharp Energy has established a solid supply portfolio. Sharp Energy is a proud 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. 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.
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Cautionary Note Regarding Forward-Looking Statements: Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “likely,” “outlook,” “forecast,” “would,” “could,” “should,” “can,” “will,” “project,” “intend,” “plan,” “goal,” “target,” “continue,” “sustain,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “possible,” “assume,” variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that could cause actual results to vary materially from those indicated, including the factors described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each of which is incorporated herein by reference, and in other documents that we file or furnish with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by law, the Company does not undertake, and expressly disclaims, any duty or obligation to update publicly any forward-looking statement after the date of this release, whether as a result of new information, future events, changes in assumptions or otherwise.
For more information, contact:
Mike Stock
Senior Director, Corporate Communications
Chesapeake Utilities Corporation
302.736.7808
[email protected]
