GSE Systems Announces Renewal of Specialty Engineer of Choice Contract for Additional Three Years

COLUMBIA, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (“GSE” or “the Company”) (Nasdaq: GVP), a leader in delivering end-to-end training, engineering, compliance, simulation, and workforce solutions to the power industry, today announced that a major US nuclear utility has renewed GSE True North’s contract to serve as Specialty Engineer of Choice (SEOC) preferred provider for engineering programs and thermal performance for another three-year term.


GSE True North, part of the GSE Systems group, specializes in plant thermal performance and engineering programs to optimize plant performance and safety. This SEOC agreement renewal provides GSE True North priority to support the client’s engineering programs and other specialty services and products on an as needed basis.

As part of the renewal process this major utility reduced the overall number of suppliers to maximize and leverage supplier partner usage and benefits. GSE True North is well positioned to serve customers in this manner, having demonstrated significant support for utility optimization and cost reduction goals. GSE True North also has partnered with this client on numerous other projects, such as fleet-wide ten-year In-Service Inspection (ISI) and In-Service Testing (IST) updates and implementation of thermal performance Data Validation & Reconciliation (DVR) support, currently in process.

This SEOC renewal serves as a continued vote of confidence from a major client,” said Kyle Loudermilk, president and chief executive officer of GSE Systems. “It is further proof that the GSE solutions group delivers and supports end-to-end solutions that streamline and standardize operations and achieve optimized plant performance for major players in the energy industry.”

ABOUT GSE SYSTEMS, INC.

GSE Systems, Inc. is a leading provider of engineering, expert staffing and simulation software to clients in the power and process industries. GSE’s products and services are tailored to help customers achieve performance excellence in design, training, compliance, and operations. 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 Maryland, with offices in Alabama, Florida, Colorado, Texas, and Beijing, China. Information about GSE Systems is available at www.gses.com.


Contacts

Company Contact
Sunny DeMattio
Marketing and Communications Director
GSE Systems, Inc.
Sunny.dematttio@gses.com
(410) 970-7931

The Equity Group Inc.
Kalle Ahl, CFA
(212) 836-9614
kahl@equityny.com