Sykesville, MD – June 28, 2016 – GSE Systems, Inc. (“GSE” or “the Company”) (NYSE MKT: GVP), the world leader in real-time high-fidelity simulation systems and training solutions to the power and process industries, today announced that it has been awarded multiple contracts for the GSE GPWR™ Generic Pressurized Water Reactor simulation technology.
The Institute for Energy Technology (IFE), an international energy and nuclear technology research foundation, has licensed the GSE GPWR simulation technology to support human factors research at the OECD Halden Reactor Project. Specifically, IFE will use GSE’s full-scope high-fidelity simulation technology, training materials and full procedure set at HAMMLAB, an international center for research into human performance supporting utilities and
regulatory bodies from twenty countries worldwide. In addition to providing simulation software technology, GSE will collaborate with IFE/Halden to develop next generation human-machine interface applications to improve nuclear plant operations and training.
In addition to IFE, North Carolina State University and a government-led research laboratory also recently have licensed the GSE GPWR simulation software together with GSE’s VPANEL® glass-top simulator to display the simulation software. North Carolina State University’s nuclear engineering department will utilize the solution to
educate and train students on a simulated operational nuclear power plant. “The application of GSE’s GPWR simulation technology in the university setting will help students gain a real world operational understanding of nuclear power principles and provides a research platform to meet the growing demands for improved nuclear plant performance. The application of a high-fidelity simulation for experimentation and method development in the university setting aligns with North Carolina State University’s goals to provide students and partners with real world application insights and the simulator allows us to do that with speed,” said Dr. Kostadin Ivanov, Department Head for Nuclear Engineering at North Carolina State University.
“We are excited to be recognized by these leading research facilities as the simulation technology of choice to support the advancement of nuclear power design and operation,” said Kyle Loudermilk, Chief Executive Officer and President of GSE. “These recent license sales demonstrate the value that GSE brings to market through packaging our technology and know-how, creating differentiated solutions that deliver compelling value to the nuclear power industry ecosystem. The application of GSE simulation solutions has been a cornerstone of power industry operational excellence for decades, and these customers will be joining a growing network of engineers in industry, government and independent nuclear research facilities across the globe. We look forward to supporting this network and continuing to deliver innovation to the market that drives operational excellence in the power industry.”
GSE Systems, the original simulator engineering company supporting the nuclear power industry, developed the GPWR high-fidelity simulator to accelerate the advancement of research to support simplified techniques that drive performance and efficiency for nuclear plant operators. Developed using GSE’s proprietary simulator engineering software tools, the GPWR simulator brings 40 years of first principle physics coding and fidelity together to bring the reactor to life for real-time research and training.