Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake”) announced today that its subsidiary, Eight Flags Energy, LLC (“Eight Flags”), is pursuing the development and construction of a combined heat and power plant in Fernandina Beach on Amelia Island in Nassau County, Florida. The plant will be built on a site to be leased from Rayonier Performance Fibers, LLC (“Rayonier Performance Fibers”), a subsidiary of Rayonier Advanced Materials, Inc. (“Rayonier Advanced Materials”). The site is adjacent to a cellulose specialties plant that Rayonier Performance Fibers operates. The combined heat and power plant will generate steam that will be sold to Rayonier Performance Fibers, pursuant to an agreement executed by Eight Flags and Rayonier Performance Fibers, for use in the operation of Rayonier Performance Fibers’ plant. The combined heat and power plant also will produce approximately 20MW of base load power that will be sold to Chesapeake’s wholly-owned subsidiary, Florida Public Utilities Company (“FPU”), for distribution to its retail electric customers.

“This is an exciting project