SYKESVILLE, Md. –
GSE Systems, Inc. (GSE or the Company) (NYSE MKT:GVP), the world
leader in real-time high-fidelity simulation systems and
training/consulting solutions to the power and process industries, today
announced that it was awarded a nuclear energy voucher from the Gateway
for Accelerated Innovation in Nuclear (“GAIN”). GAIN is an initiative
focused on accelerating the innovation and application of advanced
nuclear technologies.
GSE’s winning proposal to GAIN was to partner with Idaho National
Laboratory (“INL”) to study Human Factors Engineering for the Move to
Digital Control Systems – Improved Strategies for Operations.
Specifically, GSE and INL have recognized the potential for improvement
in plant performance and safety that can be achieved through migrating
from current analog panel interfaces to digital piping and
instrumentation diagram (“P&ID”) interfaces.
INL is the ideal national laboratory to conduct this work, as it
currently has facilities equipped with GSE’s Generic Pressurized Water
Reactor (“GPWR”) simulator. The GPWR plant simulator provides the means
to conduct thorough and reliable experimentation with both analog panel
and digital P&ID-style interfaces. The results of the proposed
experimentation should further the industry’s understanding of the
benefits and challenges involved in migrating and upgrading plant
control interfaces and the strategies for doing so.
“This project will contribute to advancing nuclear energy deployment by
enhancing performance and safety, reducing operations cost, and may lead
to bringing new products to market by GSE and industry,” explained GSE’s
Chief Technology Officer, Dr. Bahram Meyssami. “The scenarios and
interfaces used in this effort will be made available to existing and
future GPWR users, including universities and training facilities. This
project will provide benchmarks for operator performance using generic
digital interfaces that can be used in evaluating new control and
operations strategies for new plant and human-machine interface (“HMI”)
product designs. In addition, the evaluation criteria could be used by
regulatory bodies when evaluating new plant and HMI strategies.”
Kyle Loudermilk, GSE’s President and Chief Operating Officer, said, “The
fact that GSE was selected by such a prestigious national nuclear
laboratory demonstrates the value GSE’s technology provides as a path to
accelerate innovation for the industry.”
“DOE’s Office of Nuclear Energy established GAIN to provide the nuclear
innovator community with assistance to address a range of technology
needs,” said GAIN Director Rita Baranwal. “Through these vouchers, GAIN
encourages accelerated nuclear technology innovation and promotes
progress in the private sector.”[1]
To read the full abstract visit http://bit.ly/2f2oFSP.
[1] Gateway for Accelerated Innovation in Nuclear. GAIN Announces
Second Round of Nuclear Energy Voucher Recipients. N.p., 26 June
2017. Web.
<https://gain.inl.gov/SiteAssets/Teresa/GAIN%20Announces%20Second%20Round%20of.pdf>.
ABOUT GSE SYSTEMS, INC.
GSE Systems, Inc. is a world leader in real-time high-fidelity
simulation, providing a wide range of simulation, training and
engineering solutions to the power and process industries. Its
comprehensive and modular solutions help customers achieve performance
excellence in design, training and operations. GSE’s products and
services are tailored to meet specific client requirements such as
scope, budget and timeline. The Company has over four decades of
experience, more than 1,100 installations, and hundreds of customers in
over 50 countries spanning the globe. GSE Systems is headquartered in
Sykesville (Baltimore), Maryland, with offices in Huntsville, Alabama;
Chennai, India; Nyköping, Sweden; Stockton-on-Tees, UK; and Beijing,
China. Information about GSE Systems is available at www.gses.com.
FORWARD LOOKING STATEMENTS
We make statements in this press release that are considered
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934. These statements reflect our current expectations
concerning future events and results. We use words such as “expect,”
“intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,”
and similar expressions to identify forward-looking statements, but
their absence does not mean a statement is not forward-looking. These
statements are not guarantees of our future performance and are subject
to risks, uncertainties, and other important factors that could cause
our actual performance or achievements to be materially different from
those we project. For a full discussion of these risks, uncertainties,
and factors, we encourage you to read our documents on file with the
Securities and Exchange Commission, including those set forth in our
periodic reports under the forward-looking statements and risk factors
sections. We do not intend to update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise.
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GSE Systems, Inc.
Chris Sorrells, 410-970-7802
Chief Operating
Officer
or
The Equity Group Inc.
Kalle Ahl, CFA,
212-836-9614
kahl@equityny.com
or
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Sullivan, 212-836-9608
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