COLUMBIA, Md., Aug. 14 /PRNewswire-FirstCall/ -- GSE Systems, Inc. (GSE)
(Amex: GVP) and the Pacific Northwest National Laboratory have reached
agreement on a contract to build a $9 million full scope simulator for Unit 3
of the Zaporizhzhya Nuclear Power Station in eastern Ukraine.
The contract is through Battelle's Pacific Northwest National Laboratory
and is part of the Department of Energy's International Nuclear Safety
Program. The value of the contract exceeds $9 million and will take
approximately 30 months to complete. GSE is a leading global provider of
real-time simulation and process control solutions for the energy and process
industries.
The Zaporizhzhya NPP (ZNPP) operates six 1000 Megawatt nuclear power
plants, and is the world's largest power facility. This is the third full
scope simulator for the site, and represents the specific design and operating
characteristics of Unit #3. GSE has already built simulators for ZNPP Units
#1 and #5. The simulator will be used to provide operators with initial
training and with refresher operator training in all phases of normal,
abnormal, and emergency operations. This project represents a continuation of
DOE's efforts to improve the safety of Russian-designed power plants. The
simulators have been credited with assisting plant operators avoid dangerous
operating conditions, as well as unplanned plant shutdowns.
GSE will utilize its local partners in the development of the simulator,
including from Ukraine, Energotraining and the Engineering Technical Center
(ETC), and the All Russian Institute for Nuclear Power Operations (VNIIAES)
from Russia.
GSE Systems, Inc. is a real-time simulation, process control, and
automation company with three decades of experience, over 500 applications,
and 200 customers in more than 30 countries. Our software, hardware and
integrated solutions leverage proven technologies to deliver real-world
business advantages to the process and power industries worldwide including
specialty chemical, food and beverage, petroleum refining, pharmaceutical, and
fossil and nuclear power generation. GSE Systems is headquartered in Columbia,
Maryland with offices throughout the United States. Our global locations
include offices in Japan and Sweden. Information about GSE Systems is
available via the Internet at http://www.gses.com .
This news release contains forward-looking statements that involve risks
and uncertainties. The actual future results of GSE Systems may differ
materially due to a number of factors, including but not limited to delays in
introduction of products or enhancements, size and timing of individual
orders, rapid technological changes, market acceptance of new products and
competition. These and other factors are more fully discussed in the
Company's annual report on Form 10-K for the year ended December 31, 2001 as
filed with the Securities and Exchange Commission. Contact Gill R. Grady, at
410-772-3500.
SOURCE GSE Systems, Inc.
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Related links:
http://www.gses.com
CONTACT:
Gill R. Grady, Senior Vice President of GSE
Systems, Inc., +1-410-772-3500, or general info, Marilynn Meek,
+1-212-445-8451, or analyst info, Susan Garland, 212-445-8458,
both of FRB Weber Shandwick
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