COLUMBIA, Md., Nov. 5 /PRNewswire/ -- GSE Systems, Inc. (GSE) (Amex: GVP),
a leading global provider of real-time simulation and process control
solutions for the energy and process industries, and Powergen's Simulator
Training Systems Group, a premier supplier of simulation systems and
technology for Combined Cycle Gas Turbine (CCGT) power plants announced today
the formation of a marketing alliance.
The Simulator Training Systems Group has developed a range of distributed
control system emulation tools necessary to effectively simulate the control
systems for fossil and nuclear power plants. GSE has the extensive knowledge,
models and tools necessary to simulate the functionality of power plant
systems. By combining the tools sets and jointly marketing this capability
worldwide, the companies believe they can both significantly expand their
offering and provide greater value to users in the nuclear, fossil, and CCGT
power industry.
The companies will share sales leads, conduct joint marketing, and work to
ensure their tools are fully complementary.
Jerry Jen, President and Chief Operating Officer of GSE, said, "This
alliance, along with our recently announced alliance with General Physics
strengthens our reach into the power market. GSE and Powergen have
complementary products that when combined will enable us to provide extremely
accurate, yet cost effective simulation and optimization solutions to the
power industry."
Powergen's unrivaled competence in emulation technology is built on a
utility background, in-depth understanding of plant control systems, and
professionally-trained staff who have many years' experience in operating
power stations and ensuring maximum benefit from high quality training. Their
simulators duplicate actual power plants and give trainees and experienced
operators exposure to everyday and abnormal plant scenarios. Any type of
simulator system can be supplied, complete with a training package customized
to specific needs. A key part of the success of their simulators has been the
development of highly accurate control code translators and operator screen
displays, which gives the user a virtual plant experience. Information about
Powergen's Simulator Training Systems Group is available at
http://www.powertech.co.uk/simulators/index.htm .
GSE Systems, Inc. develops and delivers business and technology solutions
by applying process control, simulation software, systems and services to the
energy, process and manufacturing industries worldwide. The Company's
products are used in the following industries: specialty chemical, food and
beverage, petroleum refining, pharmaceutical, and fossil and nuclear power
generation. GSE Systems is headquartered in Columbia, Maryland with offices
in Alabama, Georgia, Louisiana, Maryland, North and South Carolina,
Pennsylvania, and Texas, and its global locations include offices in Japan and
Sweden. Information about GSE Systems is available via the Internet's World
Wide Web 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, 2000 as
filed with the Securities and Exchange Commission.
SOURCE GSE Systems, Inc.
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Related links:
http://www.powertech.co.uk/simulators/index.htm
Related links:
http://http://www.gses.com
CONTACT:
Gill R. Grady, Senior Vice President of GSE
Systems, Inc., +1-410-772-3500, or general, Marilynn Meek,
+1-212-445-8451, or analysts, Susan Garland, +1-212-445-8458,
both for GSE Systems, Inc.
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