GSE Wins Recent Simulation Awards Worth $4 Million

COLUMBIA, Md., Aug. 14, 2023 /PRNewswire/ -- GSE Solutions ("GSE Systems, Inc." or "GSE") (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that supports the future of clean-energy production and decarbonization initiatives for the nuclear power industry, today announced two major innovative simulation solution wins valued in excess of $4 million.

These recent awards reinforce the importance of high-fidelity simulation systems in the nuclear industry, proving that GSE's technology and services continue to be used beyond traditional training needs as digital upgrades and systems are integrated into the nuclear fleet. These customers recognize the significant benefits of expanding traditional high-fidelity modeling to help improve engineering functions and operations.

GSE's Systems & Simulation group has provided training simulators and educational solutions to the nuclear industry for over five decades, with over 1,100 installations and hundreds of customers in over 50 countries. The recent awards include:

• $2.5M to upgrade and integrate plant simulation models for a large, advanced reactor to reflect final "as built" designs. GSE has been part of this customer's integration team and simulation platform since 2008. This win is an extension of that award.
• A $1.5M award to qualify and deliver a software-based reactor coolant system to support thermohydraulic models for a large international power industry supplier. This is a significant advancement in GSE's proprietary JADE JTopMeret simulation technology to help study a plant's hydraulic flow in thermal fluids. These models will help customers reduce costs and maintain peak safety operations.

"These recent wins demonstrate the ongoing essential nature of simulation technology for the world's nuclear power fleet," said Kyle Loudermilk, President and CEO, GSE Solutions. "These awards are a testament to the critical importance of nuclear power and the future of nuclear power generation applied technology. In addition to providing training systems to the industry, simulation systems help customers understand how to ensure safe and cost-efficient operations of their nuclear power plants to meet national zero-carbon power generation goals to address global challenges."

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. GSE delivers operational excellence with over 1,100 installations and hundreds of customers in over 50 countries. 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.