GSE Systems, Inc. (GSE) (NYSE Amex:GVP), a leading global provider of real-time simulation and training solutions to the power, process, manufacturing and Government sectors, announced the award of $5.8 million of new work in its nuclear power simulation sector. Included in these awards are engineering services and simulator upgrade projects in North America, Europe and Asia.
Among the contracts are projects for simulation products and engineering services for various US Government organizations, delivery of GSE’s RELAP5-HD TM solution and several sales of GSE’s unique VPanel TM simulation platform.
Jim Eberle, GSE’s Chief Executive Officer said, “I am very pleased that both our RELAP5-HD and VPanel products continue to gain wide acceptance across our customer base. Our RELAP5-HD product provides the industry’s best solution for modeling reactor cores and customers are purchasing the product not only to enhance their training simulators, but also to use with our engineering design, verification and validation (V&V) platforms. Our VPanel product provides an extremely cost effective way for customers to train their operations staff. Also encouraging is the fact that a number of these awards are very strategic, and I believe they will positively affect our nuclear business well into the future.”
GSE Systems, Inc. provides training and engineering simulators, as well as educational solutions. The Company has over three decades of experience, over 362 installations, and 100 customers in more than 40 countries. Our software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and government sectors worldwide. GSE Systems is headquartered in Sykesville, Maryland located in the western suburbs of Baltimore, Maryland. Our global locations include offices in St. Marys and Augusta, Georgia; Tarrytown, New York; Nyköping, Sweden; Stockton-on-Tees, UK; and Beijing, China. Information about GSE Systems is available via the Internet at http://www.gses.com.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.