Southeast Texas Nuclear Power Supplier Selects GSE Solutions as a Preferred Engineering Services Provider

Rhea-AI Summary

GSE Systems, Inc. (Nasdaq: GVP) has been selected by a Southeast Texas power supplier as a preferred engineering services provider for their two pressurized water reactor (PWR) plants. This partnership allows the utility to access GSE's nuclear services portfolio, including training, engineering design, compliance, simulation systems, and technical staffing. GSE is one of three preferred providers for the utility's 2024 projects, showcasing the company's growing momentum in the nuclear power industry.

Positive

• GSE's selection as a preferred services provider demonstrates the company's increasing prominence in the nuclear power industry, as evidenced by its previous selection as a Specialty Engineer of Choice supplier by Utilities Service Alliance (USA). The partnership with the Southeast Texas power supplier opens up new opportunities for GSE to showcase its end-to-end solutions and drive financial benefits for the customer.

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• None.

COLUMBIA, Md., Nov. 9, 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 of the nuclear power industry, today announced that a Southeast Texas power supplier has selected GSE to be a preferred engineering services provider for their two pressurized water reactor (PWR) plants.

As of November 3rd, this utility can now draw from GSE Solutions' entire pre-approved portfolio of nuclear services, including specialized training, engineering design, engineering program compliance, simulation systems, and specialized technical staffing and consultation, to get projects done faster and more efficiently.

GSE is only one of three preferred engineering services providers listed by the utility for work to be done at these plants in 2024. By partnering with GSE, the utility will be able to take advantage of a one-stop integrated services provider and an experienced network of field engineers to provide on-demand technical expertise.

"I am extremely proud GSE was selected again for this customer as a preferred services supplier," said Kyle Loudermilk, President and CEO of GSE Solutions. "This win, coming shortly after our June 2023 announcement that Utilities Service Alliance (USA) selected GSE as a Specialty Engineer of Choice (EOC) supplier, demonstrates the building momentum for our engineering and broader business for the nuclear power industry. We are thrilled at this selection by the power supplier in Southeast Texas and are eager to bring our end-to-end solutions and combined financial benefits to this customer."

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 the company name and ticker symbol mentioned in the press release?

The company mentioned is GSE Systems, Inc. and its ticker symbol is GVP.

What services will GSE provide to the Southeast Texas power supplier?

GSE will offer a range of nuclear services including training, engineering design, compliance, simulation systems, and technical staffing.

How many preferred engineering services providers were selected by the utility for their 2024 projects?

GSE is one of three preferred engineering services providers selected by the utility for their upcoming projects.

What previous recognition has GSE received in the nuclear power industry?

GSE was previously selected as a Specialty Engineer of Choice supplier by Utilities Service Alliance (USA), showcasing its growing prominence in the industry.