GSE Systems Ltd. receives Innovate UK (formerly Technology Strategy Board) grant for study: ‘Enhanced learning through the use of virtual, augmented reality and simulation’
SYKESVILLE, MD and TEESIDE, UK – September 23, 2014 – Global energy services solutions provider GSE Systems, Inc. (“GSE” or the “Company”) (NYSE MKT: GVP) today announced that GSE Systems Ltd., the Company’s wholly-owned subsidiary, has received a grant award of £111,000 from Innovate UK to conduct a feasibility study in partnership with EDF Energy PLC and the Nuclear Advanced Manufacturing Research Centre.
The study aims to assess the feasibility of using advanced training and support tools such as virtual reality, augmented reality and simulation technologies to enhance the training delivered to all personnel working in or involved in new and existing nuclear plants.
The study will be delivered over a 12-month period and will present the benefits to the industrial end-user of using virtual reality, augmented reality and simulation in the delivery of learning in a civil nuclear environment.
About GSE Systems, Inc.
GSE 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; Glasgow, UK; and Beijing, China.
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.