COLUMBIA, Md. –
GSE Systems, Inc. (“GSE” or “the Company”) (Nasdaq: GVP),
a leading provider of professional and technical engineering, staffing
services, and simulation software to clients in the power and process
industries, today announced the recent award of two contracts for
three-year subscriptions to GSE’s EnVision™ Learning On-Demand platform.
EnVision Learning On-Demand, GSE’s next generation learning product,
provides cloud access to computer-based tutorials and simulations to
train workers in fundamentals through troubleshooting complex refining
processes.
Under the first contract, one of the world’s largest global petroleum
refiners will expand its Envision platform to include structured
learning content as well as cloud-based delivery to reduce deployment
time, cost, and system maintenance. As a result, its trainees can access
GSE’s complete library of content-rich tutorials and simulations for
workforce development simply by logging onto the web from any location
around the world.
Under the second contract, a major natural gas transmission and
distribution company operating LNG import and export facilities will be
expanding the use of EnVision products as part of its structured
employee training program during the on-boarding of new plant operators.
In addition to access to tutorials and simulations, the EnVision
Learning On-Demand platform offers courses to advance students from
basic through complex topics in a structured format measured by proper
assessments, enabling a well-designed instruction plan that is focused
on learning outcomes and competencies.
EnVision Learning On-Demand was created in response to the industry’s
need for a structured learning program offering broad and easy access to
learning materials with the capability for delivering self-paced and/or
instructor-led learning. The platform greatly enhances customers’
workforce development programs by facilitating experiential learning,
allowing on-demand access for any student to engage with hands-on
exercises within the GSE simulation platform via a web browser. Clients
can further customize courses with additional content and assessments to
suit their needs.
Dr. Bahram Meyssami, GSE’s Chief Technology Officer, said, “These new
contracts with two major energy companies demonstrate the compelling
value of our cloud-based learning platform and SaaS business model. Our
customers can leverage this platform to modernize their training
programs, lower their IT burdens and gain easy access to rich learning
content in the form of tutorials, simulation models, and structured
simulation exercises.”
ABOUT ENVISION™ E-LEARNING & UNIVERSAL
SIMULATIONS
For more than 20 years GSE’s EnVision™ products have provided
content-rich tutorials and simulation modules that apply to the entire
range of employees, from new hire to the most experienced operators.
EnVision E-Learning tutorials are an important part of the blended
learning approach embodied in the EnVision training model. The power
behind EnVision is engaging multi-media functionality that makes
learning interesting. Self-paced tutorials teach fundamentals of various
unit operations and process controls so that trainees can acquire the
basic knowledge they need to progress to more process-specific
instruction. Learning management software enables instructors to control
the process, register trainees, review test scores, and monitor their
overall performance.
EnVision Universal Simulators provide 80% of the required operational
knowledge trainees need at about 20% of the cost of a custom operations
training solution (OTS). This efficiency results from the fact that the
system configurations of EnVision universal simulators are typical unit
operations – not an exact plant. Customers gain the same high-fidelity
response as a custom OTS without the high cost of providing custom
simulation solutions for each and every one of their units.
Combining universal simulator applications with e-learning tutorials
enables students to practice and apply immediately what they have
learned for better comprehension and knowledge retention.
ABOUT GSE SYSTEMS, INC.
GSE Systems, Inc. is a leading provider of professional and technical
engineering, staffing services, and simulation software to clients in
the power and process industries. GSE’s products and services are
tailored to help customers achieve performance excellence in design,
training, compliance, and operations. 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 Columbia, Maryland,
Navarre, Florida, Montrose, Colorado, 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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Company
GSE Systems, Inc.
Chris Sorrells, 410-970-7802
Chief
Operating Officer
or
The Equity Group Inc.
Kalle
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kahl@equityny.com