GSE Systems Selected to Receive GAIN Nuclear Energy Voucher for Advanced Nuclear Technology Innovation
SYKESVILLE, MD – September 7, 2017 – GSE Systems, Inc. (“GSE” or “the Company”) (NYSE MKT: 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 was awarded a nuclear energy voucher from the Gateway for Accelerated Innovation in Nuclear (“GAIN”). GAIN is an initiative focused on accelerating the innovation and application of advanced nuclear technologies.
GSE’s winning proposal to GAIN was to partner with Idaho National Laboratory (“INL”) to study Human Factors Engineering for the Move to Digital Control Systems – Improved Strategies for Operations. Specifically, GSE and INL have recognized the potential for improvement in plant performance and safety that can be achieved through migrating from current analog panel interfaces to digital piping and instrumentation diagram (“P&ID”) interfaces.
INL is the ideal national laboratory to conduct this work, as it currently has facilities equipped with GSE’s Generic Pressurized Water Reactor (“GPWR”) simulator. The GPWR plant simulator provides the means to conduct thorough and reliable experimentation with both analog panel and digital P&ID-style interfaces. The results of the proposed experimentation should further the industry’s understanding of the benefits and challenges involved in migrating and upgrading plant control interfaces and the strategies for doing so.
“This project will contribute to advancing nuclear energy deployment by enhancing performance and safety, reducing operations cost, and may lead to bringing new products to market by GSE and industry,” explained GSE’s Chief Technology Officer, Dr. Bahram Meyssami. “The scenarios and interfaces used in this effort will be made available to existing and future GPWR users, including universities and training facilities. This project will provide benchmarks for operator performance using generic digital interfaces that can be used in evaluating new control and operations strategies for new plant and human-machine interface (“HMI”) product designs. In addition, the evaluation criteria could be used by regulatory bodies when evaluating new plant and HMI strategies.”
Kyle Loudermilk, GSE’s President and Chief Operating Officer, said, “The fact that GSE was selected by such a prestigious national nuclear laboratory demonstrates the value GSE’s technology provides as a path to accelerate innovation for the industry.”
“DOE’s Office of Nuclear Energy established GAIN to provide the nuclear innovator community with assistance to address a range of technology needs,” said GAIN Director Rita Baranwal. “Through these vouchers, GAIN encourages accelerated nuclear technology innovation and promotes progress in the private sector.”
To read the full abstract visit http://bit.ly/2f2oFSP.
 Gateway for Accelerated Innovation in Nuclear. GAIN Announces Second Round of Nuclear Energy Voucher Recipients. N.p., 26 June 2017. Web.
Download this release: GAIN Voucher Announcement
About GSE Systems, Inc.
GSE Systems, Inc. provides performance improvement solutions to the energy and process industries. We improve human performance though turnkey training, unique visualization and simulation applications, and our staff of instructors, as well as plant improvement through our engineering expertise and use of technology to improve plant design, commissioning and operations. The Company has more than 300 employees and over four decades of experience as well as 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; Cary, North Carolina; Huntsville, Alabama; Chennai, India; Nyköping, Sweden; Stockton-on-Tees, UK; Glasgow, UK; and Beijing, China. Information about GSE Systems is available at www.gses.com.
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.