GSE Engineering Shows Positive Momentum with Over $1M in Recent New Nuclear Programs Service & Support Wins

COLUMBIA, MD – May 25, 2023– 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 that its GSE Engineering division showed positive momentum with several new customer service and support wins.

These recent wins, totaling more than $1M, verify that customers continue to trust GSE to provide subject matter expertise and specialty engineering services critical to them to boost agility, reduce operation and maintenance costs, and maintain regulatory compliance.

GSE’s Engineering Programs & Performance group (formerly True North Consulting) supports customers through its expert utility-focused Engineering Programs and Technology solutions. Highlighted services involved in these recent awards include:

• Flow Accelerated Corrosion [FAC] and Erosion Program Services to key customers with locations spanning the US and wins totaling $547K, including a large order for a utility in the Midwest to provide program oversight and updates to the FAC program streamlining requirements and reducing utility costs.
• Thermal Performance and Data Validation & Reconciliation [DVR] Services of $263K from several utility customers based throughout the Eastern US for new DVR updates, thermal performance analysis, and modeling services that increase plant output and ensure efficient fuel consumption, providing significant economic benefits to the utility.
• Engineering Programs, Software & Training Services round out the remainder of wins with $249K for support services for Spring refueling outages and expanded training programs overseas.

“We are honored to have the trust of our customers as they look to GSE for our expert engineering services and technology,” said Kyle Loudermilk, President and CEO, GSE Solutions. “These services are critical and valuable to our customers to ensure safe and cost-effective operations of their nuclear power plants.”