GSE Solutions Receives Contract to Develop and Support Hydrogen Plant Model for NuScale Power

Rhea-AI Summary

GSE Solutions (Nasdaq: GVP) has announced a contract with NuScale Power (NYSE: SMR) to create a Hydrogen Plant Model for NuScale's VOYGR^TM small modular reactor simulator. This collaboration will enhance the existing control room simulator to assess the feasibility of connecting hydrogen production to SMR power plants. The model is expected to be completed by March 2024, supporting decarbonization efforts through clean hydrogen production. GSE aims to leverage its advanced simulation technology to improve energy production efficiency and safety.

Positive

• Contract with NuScale Power for developing a Hydrogen Plant Model.
• Project aligns with clean energy and decarbonization initiatives.
• Completion of the project is estimated by March 2024.

Negative

• None.

COLUMBIA, Md., Jan. 30, 2023 /PRNewswire/ -- GSE Solutions ("GSE Systems, Inc." or "GSE" or the "Company") (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today a contract to work with NuScale Power (NYSE: SMR) ("NuScale") to develop a Hydrogen Plant Model for NuScale's VOYGR^TM small modular reactor (SMR) power plant simulator. GSE will provide the models, integration, and testing support to NuScale using its JPro^TM Dynamic Simulation Software.

GSE joins NuScale Power's research collaboration for clean hydrogen production that will assess new concepts for use in small modular reactor power plants. The agreement will modify the existing NuScale control room simulator to evaluate the Integrated Energy System (IES) dynamics and include GSE's models for hydrogen production. In addition, the project will determine the technical and economic feasibility of connecting a hydrogen production facility to a NuScale SMR power plant and evaluate operating parameters. The scaled–up model is estimated to be complete by the middle of March 2024.

GSE strives to create the most accurate, highest-level of advanced modeling technologies on the market, providing unparalleled accuracy and detail, enabling simulators to test engineering changes, control system design, and even perform human factors engineering before plant commissioning.

"Hydrogen has been identified as a pathway for global decarbonization, and NuScale's SMR technology complements this goal through low carbon hydrogen production," said John Hopkins, NuScale Power President and Chief Executive Officer.

"We are pleased to support NuScale in developing a first-of-its-kind hydrogen plant simulator, which is in line with GSE's mission to support innovative clean power programs," said Kyle Loudermilk, President and Chief Executive Officer of GSE Solutions. "Clean hydrogen production using our modeling of SMR technology and nuclear power systems demonstrates the potential to enable decarbonization and stabilize power grids using hydrogen."

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
Director of Marketing & Communications
sunny.demattio@gses.com
Direct: +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.

FAQ

What is GSE Solutions' new contract about?

GSE Solutions has a contract with NuScale Power to develop a Hydrogen Plant Model for their small modular reactor power plant simulator.

When is the Hydrogen Plant Model project expected to be completed?

The project is expected to be completed by March 2024.

How does GSE's project with NuScale relate to clean energy?

The project focuses on clean hydrogen production, supporting global decarbonization efforts.

What technology will GSE use for its collaboration with NuScale Power?

GSE will use its JPro^TM Dynamic Simulation Software for modeling and testing.