SYKESVILLE, Md. –
GSE Systems, Inc. (GSE or the Company) (NYSE American: 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 has sold technology licenses for GSE’s Generic
Pressurized Water Reactor (GPWR™) simulation platform to two nuclear
research institutions located in the United States. New licensees
include a non-profit industry research organization and the nuclear
engineering department at one of America’s oldest research universities.
GSE’s GPWR simulation platform is configured to represent a fully
functional nuclear power plant. The platform is a high-fidelity digital
twin of an operational pressurized water reactor nuclear plant in the
United States. The fidelity and accuracy of the models allow the
licensee to repeat real-time operation of a simulated plant and supports
a platform for research in the form of verification and validation of
new operating schemes, designs, and controls. Originally deployed as a
training tool leveraging GSE technology to replicate with high accuracy
and fidelity an actual nuclear plant, the GPWR simulation platform is
now a staple for nuclear operational research with a total of 20
organizations licensing the product, including major universities and
national laboratories.
Educational institutions use GSE’s GPWR for a variety of activities
including advanced education in nuclear, mechanical, electrical and
instrumentation and controls engineering. The platform provides a
detailed analysis of nuclear plant phenomena as well as a realistic
laboratory environment to reinforce concepts discussed in the classroom.
As noted in GSE’s recent press release on the GAIN voucher, other
institutions are using the GPWR for human factors engineering to improve
situational awareness and operator effectiveness in the control rooms of
the future. GSE recently held its second GPWR User Conference to provide
a forum for these institutions to share innovative uses for the
simulation platform.
“The fidelity of the model-based engineering and graphics combined with
one of the world’s first industrial gaming engine applications is
allowing academia and researchers to learn and experiment in new, more
efficient ways. We are pleased to be adding two new institutions to the
user family, which includes over a dozen major universities and National
Laboratories conducting research across a broad spectrum of performance
and design areas from cyber security preparedness to human factors
engineering and procedure validation,” said Sean Fuller, SVP Sales &
Technology.
Kyle Loudermilk, GSE’s President and Chief Executive Officer, said, “We
are honored that national and international academia and nuclear
institutions recognize GSE’s GPWR simulation platform as a valuable
solution to conduct and advance their nuclear related research. This is
a further validation of the value our customers can realize through
licensing and utilizing our unique technology platform.”
ABOUT GSE SYSTEMS, INC.
GSE Systems, Inc. is a world leader in real-time high-fidelity
simulation, providing a wide range of simulation, training, consulting
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.
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Chief
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