GSE Systems, Inc. (GVP) - 500 Beiträge pro Seite

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Profile:GSE Systems, Inc. provides simulation solutions and services to the power generation industry, the process industries, and the U.S. Government. In addition, the company provides plant monitoring, and signal analysis monitoring and optimization software primarily to the power industry, and develops software applications for emerging technologies. The company’s services for power generation industry include development, marketing, and support of simulation software for electric utilities, as well as building and modification of simulators that serve nuclear power plants. Services for process industries include simulation capabilities for operator training. GSE Systems’s services for the U.S. Government include Real-time Emergency Management Interactive Training System (REMITS), a PC-based simulation software for training emergency operations center staff for emergency response. The company markets its simulation products and services through a network of direct sales staff, sales agents and representatives, systems integrators, and strategic alliance partners. GSE Systems has strategic alliances or partnerships with Automation Systems Co. Inc., China; All Russian Research Institute for Nuclear Power Plant Operation, Russia; Kurchatov Institute, Russia; Macmet, Ltd., India; PowerGen, England; Risk Engineering, Ltd., Bulgaria; Samsung Electronics, Korea; Toyo Engineering Corporation, Japan; and the Institute for Information Industry, Taiwan. The company was formed in 1994 and is headquartered in Columbia, Maryland. GSE Systems, Inc. is a subsidiary of GP Strategies Corporation.

http://www.gses.com/

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GSE Systems Secures $15 Million Contract to Develop Simulation Training Center in the Arab Gulf Region
Thursday January 5, 9:00 am ET


BALTIMORE--(BUSINESS WIRE)--Jan. 5, 2006--GSE Systems, Inc. (GSE) (Amex - GVP), a leading global provider of real time simulation and training solutions to the power, process, manufacturing and Government sectors, announced today the award of a major contract from the Emirates Simulation Academy, LLC, located in the United Arab Emirates. GSE will provide five real-time, high fidelity simulators including a gas turbine power plant, a desalination plant, a combined cycle plant, a petroleum refinery and an oil platform. In addition, GSE will be responsible for developing the training programs associated with the simulators, as well as the development of traditional classroom and online training content.
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The contract amount is slightly over $15 million (US). An option in the contract to purchase hardware would add an additional $1.4 million to this amount. This represents the largest single contract award since the Company went public in 1995. Revenue from the contract is expected to be recognized over the next 20 months. The first Emirates Simulation Academy is scheduled to be fully operational by September 2007, and will be located in Abu Dhabi. Locations for additional Academies are currently being developed.

John V. Moran, GSE`s CEO, stated "Our team, led by Hal Paris and Michael Feldman, has been working with partners in the Arab Gulf Region, as well as other regions of the world, to develop training centers that utilize simulation as a core element of the training program. We are very pleased to be a part of this critically important Gulf Region initiative. GSE believes simulation is the most effective training platform for adult learners, and its strategy is based upon providing simulators as well as the training services and content required for a complete training solution. This `turn-key` approach allows customers to bring their training centers on line rapidly with the best training technology and content available."

GSE Systems, Inc. provides real-time simulation and training solutions. The Company has over three decades of experience, over 265 installations, and 100 customers in more than 25 countries. Our software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and Government sectors worldwide. GSE Systems is headquartered in Baltimore, Maryland. Our other locations include offices in St. Mary`s, Georgia, Sweden, and China. 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. We use words such as "expects", "intends" and "anticipates" to indicate forward looking statements. 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, and in statements filed with the Securities and Exchange Commission.

If any one or more of these expectations and assumptions proves incorrect, actual results will likely differ materially from those contemplated by the forward-looking statements. Even if all of the foregoing assumptions and expectations prove correct, actual results may still differ materially from those expressed in the forward-looking statements as a result of factors we may not anticipate or that may be beyond our control. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. We do not undertake to update any forward-looking statements made by us.



Contact:
GSE Systems, Inc., Baltimore
John V. Moran, 410-277-3740

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Source: GSE Systems, Inc.

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GSE Systems Secures $5.4 million (US) Nuclear Contracts and Major Project at Leningrad Nuclear Power Plant
Tuesday January 10, 9:00 am ET


BALTIMORE--(BUSINESS WIRE)--Jan. 10, 2006--GSE Systems, Inc. (GSE) (Amex:GVP - News), GSE Systems, Inc., a leading global provider of real time simulation and training solutions to the power, process, manufacturing and Government sectors, announced today that Rosenergoatom and Leningrad Nuclear Power Plant issued a letter of intent and authorization for GSE to proceed on a major upgrade to the Leningrad Unit 1 Full Scope Simulator. The Leningrad nuclear plant is undergoing significant upgrades which are required to be reflected in the simulator for operator training.
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The scope of supply includes implementing numerous panel hardware and system software modifications to reflect design changes in the actual plant. In addition the Company will upgrade the current simulator computers and modeling technology to GSE`s latest Java-based technology.

Gill Grady, GSE`s Senior Vice President, stated "We are very pleased in the confidence the Leningrad Nuclear Power Plant has shown in GSE, and in our latest technology. We are also pleased to be a part of one of the most important initiatives in the Energy Sector, namely, the global resurgence of generating electricity through nuclear power."

In addition to the Leningrad project, GSE has been awarded a number of other simulator maintenance and upgrade contracts in its European and US nuclear power sector. Together the contract awards, including the Leningrad project, exceed $5.4 million (US). The work is expected to be completed over the next 18 months.

GSE Systems, Inc. provides real-time simulation and training solutions. The company has over three decades of experience, over 265 installations, and 100 customers in more than 25 countries. Our software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and Government sectors worldwide. GSE Systems is headquartered in Baltimore, Maryland. Our other locations include offices in St. Marys, Georgia, Sweden and China. 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. We use words such as "expects", "intends" and "anticipates" to indicate forward looking statements. 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, and in statements filed with the Securities and Exchange Commission.

If any one or more of these expectations and assumptions proves incorrect, actual results will likely differ materially from those contemplated by the forward-looking statements. Even if all of the foregoing assumptions and expectations prove correct, actual results may still differ materially from those expressed in the forward-looking statements as a result of factors we may not anticipate or that may be beyond our control. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. We do not undertake to update any forward-looking statements made by us.



Contact:
GSE Systems, Inc.
John V. Moran, 410-277-3740

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Source: GSE Systems, Inc.

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GSE Systems to Sponsor Simulation Seminar in China
Tuesday November 29, 9:00 am ET


BALTIMORE--(BUSINESS WIRE)--Nov. 29, 2005--GSE Systems, Inc. (GSE) (Amex:GVP - News), a leading global provider of real-time simulation and training solutions to the power, process, manufacturing and Government sectors, announced today that it will sponsor a real-time simulation seminar on December 19, 2005 in Shanghai, China.
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The seminar will be co-sponsored by the prestigious Shanghai University of Electric Power and the Shanghai Automation and Instrument Company, LTD., one of the largest instrumentation and controls companies in China. The seminar will focus on the benefits of utilizing simulation as a key component in Operator, Maintenance Personnel and Engineering training programs; and how these training programs increase plant safety avoiding costly downtime, product waste and environmental risks. It will address simulation in the nuclear power industry, the fossil electric power industry, and the industrial sector. As a part of the seminar GSE will demonstrate its latest simulation technology. GSE expects attendees from over 20 organizations comprised of Chinese academic professionals, business executives and government officials. Companies interested in attending the seminar should contact Jerry Jen, 410-277-3742 at GSE regarding registration and fees.

GSE Systems, Inc. provides real-time simulation and training solutions. The company has over three decades of experience, over 250 installations, and 100 customers in more than 25 countries. Our software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and Government sectors worldwide. GSE Systems is headquartered in Baltimore, Maryland. Our global locations include offices in Sweden, Japan and China. 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. We use words such as "expects", "intends" and "anticipates" to indicate forward looking statements. 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, and in statements filed with the Securities and Exchange Commission.

If any one or more of these expectations and assumptions proves incorrect, actual results will likely differ materially from those contemplated by the forward-looking statements. Even if all of the foregoing assumptions and expectations prove correct, actual results may still differ materially from those expressed in the forward-looking statements as a result of factors we may not anticipate or that may be beyond our control. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. We do not undertake to update any forward-looking statements made by us.



Contact:
GSE Systems, Inc.
John V. Moran, 410-277-3741

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Source: GSE Systems, Inc.

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GSE Systems Awarded Contracts in European Nuclear Power Simulation Market
Tuesday December 13, 9:00 am ET


BALTIMORE--(BUSINESS WIRE)--Dec. 13, 2005--GSE Systems, Inc. (GSE) (Amex:GVP - News), a leading global provider of real-time simulation and training solutions to the power, process, manufacturing and Government sectors, announced the award of two contracts for nuclear plant simulator upgrades in Europe totaling over $1.7 million. The contracts represent the Company`s emphasis on keeping its customers current with technology and maximizing the use of simulation in their training programs.
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The Company received a contract to provide an Emergency Control Room simulator for Unit 3 of the Zaporozhzhye nuclear plant in Ukraine. The new simulator will connect to the full scope simulator recently delivered by GSE and train operators on emergency operations and shutdown of Zaporozhzhye Unit 3 in the event the main control room is unusable.

The company also received a contract to update the Muhleberg simulator in Switzerland with GSE`s latest simulation technology. The Company just completed a project to replace the simulator computer complex with a PC based solution, and will now convert many of the simulator models to GSE`s latest Java-based tools so the customer can take advantage of the modern software development environment. This project demonstrates GSE`s ability to effectively migrate customers from earlier versions of its software to the latest JADE toolset.

Mr. John Moran, Chief Executive Officer for GSE, said "Providing our customers a cost effective migration path to technology is an underpinning of our R&D program. The flexibility and supportability of the Java based tools allows our customers to leverage their software investment well into the future. We are very pleased to continue to receive engineering services contracts, which is a key part of our growth strategy."

GSE Systems, Inc. provides real-time simulation and training solutions. The company has over three decades of experience, over 250 installations, and 100 customers in more than 25 countries. Our software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and Government sectors worldwide. GSE Systems is headquartered in Baltimore, Maryland. Our global locations include offices in Sweden, Japan and China. 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. We use words such as "expects", "intends" and "anticipates" to indicate forward looking statements. 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, and in statements filed with the Securities and Exchange Commission.

If any one or more of these expectations and assumptions proves incorrect, actual results will likely differ materially from those contemplated by the forward-looking statements. Even if all of the foregoing assumptions and expectations prove correct, actual results may still differ materially from those expressed in the forward-looking statements as a result of factors we may not anticipate or that may be beyond our control. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. We do not undertake to update any forward-looking statements made by us.



Contact:
GSE Systems, Inc., Baltimore
John V. Moran, 410-277-3741

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Source: GSE Systems, Inc.

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Trend to High Fidelity Simulators Continues in Fossil Power Plant Market
Wednesday May 3, 9:03 am ET
GSE Awarded Contracts Over $2.7 million in Value


BALTIMORE--(BUSINESS WIRE)--May 3, 2006--GSE Systems, Inc. (GSE) (Amex:GVP - News), a leading global provider of real-time simulation and training solutions to the power, process, manufacturing and Government sectors, announced the award of multiple contracts for high fidelity fossil power plant simulators in its Asia Pacific and US markets. The value of the contracts, which will use GSE's JADE(TM) simulation tools, exceeds $2.7 million.
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GSE's JADE(TM) (JAVA Advanced Development Environment) simulation software combines an easy to use graphical environment, with GSE's proprietary algorithms to automatically create sophisticated software models of plant fluid, electrical, logic and control systems. These models when coupled together closely replicate a plant's actual response. Because JADE(TM) is based upon JAVA technology, JADE(TM) is platform independent, allowing customers to use Microsoft Windows, LINUX or UNIX operating systems.

The Company received a contract from independent power producer Kapar Energy Ventures in Malaysia for the upgrade of its 500MW Coal Fired Simulator at the Sultan Salahuddin Abdul Aziz Power Plant. The simulator upgrade will now utilize GSE JADE(TM) based models to provide a more accurate simulation of the plant systems and processes.

In Korea, the Company received a contract to supply a JADE(TM) license, plant models, and services from Emerson Process Management Korea Ltd. Power & Water Solutions. The fossil fueled power plant project will utilize Emerson's Ovation control system and GSE's JADE(TM) models for validation of plant process and control logic design.

The Company also received a contract from Emerson Process Management Power and Water Systems, Inc. to build a high fidelity simulator for American Electric Power's (AEP) John E. Amos Unit 3 Power Plant. Amos is a supercritical 1300MW unit located in St. Albans, VW. AEP is installing a flue gas desulphurization system, which is a significant addition to the plant designed to reduce emissions, as well as upgrading existing control room instrumentation with Emerson's state of the art Ovation distributed control system.

Mr. John Moran, Chief Executive Officer for GSE, said "The Asia Pacific contracts represent clients with simulation experience who have previously used competitor technology. They selected GSE and our JADE(TM) technology because it matches the sophisticated modeling needs for these plants. This is consistent with the continued growth we see in the Asian market, particularly for high fidelity fossil plant simulation solutions."

"The Amos project represents the sixth fossil supercritical related simulator project received by our Company over the last two years. It is gratifying that GSE technology has been selected for these novel power plant designs where model accuracy is critical to engineering evaluations and operations training."

GSE Systems, Inc. provides training simulators and educational solutions. The company has over three decades of experience, over 265 installations, and 100 customers in more than 25 countries. Our software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and Government sectors worldwide. GSE Systems is headquartered in Baltimore, Maryland. Our global locations include offices in St. Mary's, Georgia, Sweden, and China. 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. We use words such as "expects", "intends" and "anticipates" to indicate forward looking statements. 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, and in statements filed with the Securities and Exchange Commission.

If any one or more of these expectations and assumptions proves incorrect, actual results will likely differ materially from those contemplated by the forward-looking statements. Even if all of the foregoing assumptions and expectations prove correct, actual results may still differ materially from those expressed in the forward-looking statements as a result of factors we may not anticipate or that may be beyond our control. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. We do not undertake to update any forward-looking statements made by us.



Contact:
GSE Systems, Inc.
John V. Moran, 410-277-3740
or
Investor Relations:
Feagans Consulting Inc.
Neal Feagans, 303-449-1184

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Source: GSE Systems, Inc.