Jim Eberle, Chief Executive Officer of GSE, commented, “In its recently issued report following the events at Fukushima, the NRC suggested a number of initiatives to enhance the preparedness of the nation’s nuclear workforce, including enhanced severe accident training. We believe that MAAP-HD’s ability to train nuclear personnel on the sequence of events during severe accident conditions and implement safe recovery operations positions the product as an important part of any comprehensive approach to strengthening nuclear safety protocols.”Information on MAAP-HD is available at GSE’s website at www.gses.com/severeaccident. A dedicated email address has also been established for customers at firstname.lastname@example.org. ABOUT GSE SYSTEMS, INC. GSE Systems, Inc. provides a wide range of simulation and training solutions to the global energy (nuclear and non-nuclear) industry, and is the world leader in nuclear simulation. The Company has over four decades of experience, more than 1,000 installations, and hundreds of customers in over 50 countries spanning the globe. 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 (Baltimore), Maryland, with offices in St. Marys and Augusta, Georgia; Tarrytown, New York; Madison, New Jersey; Chennai, India; Nyköping, Sweden; Stockton-on-Tees, UK; and Beijing, China. Information about GSE Systems is available via the Internet at http://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.
GSE Systems, Inc. (“GSE” or “the Company”) (NYSE Amex: GVP), a global energy services solutions provider and the world leader in providing high-fidelity nuclear plant simulators, today announced the availability of MAAP-HD ™, an engineering-grade nuclear simulation solution that allows operations personnel to train for and develop responses to severe accident scenarios based on the operations of their specific facility. MAAP-HD’s real-time code can be integrated with a nuclear plant’s existing full-scope training simulator, and is applicable to all current nuclear plant designs. The unprecedented events that impacted the operations of the Fukushima Daiichi Nuclear Power Plant in March 2011 have focused renewed attention on the readiness of nuclear plants to effectively address crisis conditions that exceed the design of the facility. These severe accidents, which are defined by the U.S. Nuclear Regulatory Commission (NRC) as events that, “…may challenge safety systems at a level much higher than expected,” are generally associated with a loss of core coolant and the subsequent meltdown of core material. Such events, while extremely rare, can lead to containment breaches and the release of radioactive material into the environment. MAAP-HD is an enhanced, real-time version of the industry standard MAAP5 severe accident analysis code originally developed by Fauske & Associate, LLC under the sponsorship of the Electric Power Research Institute. MAAP-HD can be used to validate the utility’s Severe Accident Management Guidelines, demonstrate the safety of current plant designs to regulators and stakeholders, and identify potential issues with existing plant design that may require modification. MAAP-HD includes high-fidelity models of the plant’s reactor core, containment structures and spent fuel pool. The models simulate severe accident conditions which mirror those that occurred at the Fukushima facility, such as the release of radioactive materials due to overheating of the core, exposure of the fuel rods in the spent fuel pool, and hydrogen build up in the containment building.