GSE Solutions Receives New Contracts for Continued Engineering Services

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GSE Systems, Inc. has been awarded over $0.5 million in contracts to provide Engineering Program updates for two large nuclear power customers in the United States and the United Kingdom. The contracts will support the decarbonization initiatives of the nuclear power industry and provide ASME Code Program updates for Britain's biggest generator of zero-carbon electricity. GSE's Engineering, Programs & Performance division has been expanding globally, generating business in Spain, South Africa, and China.

One contract awarded in the UK, opening the expansion of engineering services into Global Markets

COLUMBIA, Md., Oct. 30, 2023 /PRNewswire/ -- GSE Systems, Inc. ("GSE Solutions" or "GSE" or the "Company") (Nasdaq: GVP), a leader in advanced engineering services and workforce solutions that support the future of clean-energy production and decarbonization initiatives of the nuclear power industry, announced today it has been awarded in excess of $0.5 million in contracts to provide Engineering Program updates for two large nuclear power customers in United States and United Kingdom.  

Much of the proceeds from these contracts will provide ASME Code Program updates for Britain's biggest generator of zero-carbon electricity. Over the several years, GSE's Engineering, Programs & Performance division has continued to generate engineering program business in Spain, South Africa, and China to support the company's new service strategic global expansion initiatives.

Both new contracts include Appendix J License Amendments, In-Service Testing (IST) service updates, and training courses, which can be delivered virtually or onsite. These services will ensure our clients remain compliant with the requirements of the latest approved edition addenda of the ASME OM and ASME Section XI Codes and associated regulatory requirements.

"For over 20 years, GSE Programs & Performance (formerly True North Consulting) has provided a full range of engineering programmatic services to the nuclear industry," said Damian DeLongchamp, Vice President of GSE Engineering, Programs & Performance. "We are excited to continually expand globally to broaden our engineering services reach and provide more nuclear customers with cost-effective services that ensure the safe operation of their facilities."

ABOUT GSE SOLUTIONS
Proven by more than 50 years of experience in the nuclear power industry, GSE knows what it takes to help customers deliver carbon-free electricity safely and reliably. Today, GSE Solutions leverages top talent, expertise, and technology to help energy facilities achieve next-level power plant performance. GSE's advanced Engineering and Workforce Solutions divisions offer highly specialized training, engineering design, program compliance, simulation, and technical staffing that reduce risk and optimize plant operations. With more than 1,100 installations and hundreds of customers in over 50 countries, GSE delivers operational excellence. www.gses.com

Media Contact
Sunny DeMattio, GSE Solutions
sunny.dematttio@gses.com
P: +1 410.970.7931

Investor Contact
Adam Lowensteiner
Vice President
Lytham Partners
gvp@lythampartners.com
Direct: +1 646.829.9702

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SOURCE GSE Systems, Inc.

What is the company name mentioned in the press release?

The company mentioned in the press release is GSE Systems, Inc. (GSE Solutions or GSE).

What is the value of the awarded contracts?

The awarded contracts are worth over $0.5 million.

What services will GSE provide under the contracts?

GSE will provide Engineering Program updates, including Appendix J License Amendments, In-Service Testing (IST) service updates, and training courses.

Which countries will benefit from GSE's engineering services?

GSE's engineering services will benefit the United States, the United Kingdom, Spain, South Africa, and China.

What is the focus of GSE's engineering services?

GSE's engineering services focus on supporting the future of clean-energy production and decarbonization initiatives of the nuclear power industry.