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.
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.