Chesapeake Utilities Corporation (NYSE:CPK) Q4 2022 Earnings Call Transcript

Page 5 of 5

Tate Sullivan: I mean with that comment, I mean — I mean, 1,000 trailer loads with Marlin, are you operating? And if you can comment, are you operating at full capacity at Marlin? Or do you continue to order and build more tanks from online?

Jeff Householder: Well, we order and build as the market allows us to. And so I don’t mean to be particularly vague there. But I mean, obviously, as we encounter opportunities in the marketplace when we increase our capital assets accordingly, the 1,000 tank loads are more than 1,000 actually from the landfill in North Florida. Again, it was a nice opportunity for us to provide services for the landfill operator and the developer of the RNG project, which was not us and one of our sister utilities here in Florida. And so we look for those types of longer-term contracted opportunities from Marlin to move R&D. That’s exactly why we bought that company and what we’re trying to do with it. So we’re looking for those opportunities all the time, not just in Florida.

Tate Sullivan: And then is Wildlight housing? I remember while a bit ago one of your Analyst Days, I mean, you pointed to many housing development projects. Is Wildlight much larger than any of the housing developments going on in Delaware or forecasts for housing development?

Beth Cooper: Yes. I wouldn’t say that there — I would say there are large housing developments on the Peninsula, but I wouldn’t say, , to your question. I mean Wildlight is enormous and huge as we’ve talked about. And so 20,000 homes, I cannot recall any developments that up north or that large by themselves. You may have a group of development. Certainly, Shell Brothers and others have built substantial development, much smaller, but they are multiple developments up there. So similar type of opportunity, but I would say, smaller scale overall individually.

Tate Sullivan: And then you mentioned clean energy fuels in the release and is this the first project that you’ve had with that company? And I imagine given that company’s growth can represent more projects going forward. Is that the case?

A €“Jeff Householder: I think this is €“ I believe that that’s accurate. We may have done something somewhere along the way for them before, but it wasn’t significant, at least as significant as this is. And so we built a pipeline to serve their facility down in Central Florida. And yes, we’d love to do as many projects as we could with those guys.

Operator: There are no further questions in queue at this time. I will turn the floor back over to Jeff Householder for any additional or closing remarks.

Jeff Householder : Okay. Thank you, and thanks to all of you for joining us this morning. We appreciate your time and your continued interest in the company, and we’ll talk to you soon. Good bye.

Operator: Thank you. This concludes today’s Chesapeake Utilities fourth quarter and full year 2022 earnings conference call. Please disconnect your lines at this time, and —

Follow Chesapeake Utilities Corp (NYSE:CPK)

Page 5 of 5