For more information on GSE’s engineering simulators, go to www.gses.com/design-simulation-human-factors-engineering. http://www.futuregenalliance.org/futuregen-2-0-project/ 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 energy 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 St. Marys, Georgia; Madison, New Jersey; Cary, North Carolina; Chennai, India; Nyköping, Sweden; Stockton-on-Tees, UK; Glasgow, 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.
Global energy services solutions provider GSE Systems, Inc. (NYSE MKT:GVP) is currently working on Phase II of a multi-phase project with Babcock & Wilcox Power Generation Group (B&W PGG) to supply an engineering simulator for the first-of-a-kind power plant design, FutureGen 2.0 project. The FutureGen 2.0 will be a near-zero emissions coal-fueled power plant using oxy-combustion technology. FutureGen 2.0, funded by the American Recovery and Reinvestment Act overseen by the U.S. Department of Energy, will retrofit the decommissioned Meredosia coal-fueled power plant in Illinois with an innovative oxy-coal carbon capture technology developed by B&W PGG in collaboration with Air Liquide. The oxy-coal combustion process uses nearly pure oxygen and recycled flue gasses instead of air for combustion. The resulting flue gas is composed of concentrated CO 2, which is purified, compressed and stored in a deep formation. By capturing and storing approximately 1.1 million tons of the greenhouse gas CO 2 each year, the plant will reduce its CO 2 emissions by at least 90 percent.  The first phase engineering simulator models the plant’s boiler and Gas Quality Control System to validate specifications for equipment sizing and performance. Additionally, the models will be used to validate the process controls developed by B&W PGG and Air Liquide. By having the simulator during plant development, engineers and future operators will be able to test the performance of the models and controls. In subsequent phases, the simulator will be used to verify and validate the new plant systems and controls prior to plant commissioning. An additional benefit of the project is that the resulting controls will be optimized prior to commissioning and tuned by plant operation. This will reduce the commissioning time and cost for the new plant. GSE has completed many other first-of-a-kind simulation projects for new plant designs such as the B&W mPower Small Modular Reactor, Westinghouse AP1000, NuScale Power Small Modular Reactor, Chinese CPR1000, SINOPEC Integrated Gasification Combined Cycle, and a Korean-built ultra-supercritical control verification and validation simulator.