Contract builds upon track record for new innovative software by GSE that delivers improved plant performance
GSE Systems, Inc. (“GSE Solutions” or “GSE” or the “Company”) (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that support the future of clean energy production and overall decarbonization initiatives of the power industry, has been awarded a contract from a large US nuclear 3-unit power plant operator to deliver a web-based Thermal System Monitoring (TSM) Program using GSE’s proprietary technology and Data Validation and Reconciliation (DVR) modeling expertise.
The contract is another major win combining GSE TrueNorth’s Thermal System Monitoring technology, TSM Enterprise, with DVR capabilities pioneered by partner Belsim. Innovative solutions like TSM Enterprise and DVR are in great demand as the nuclear industry looks to improve the performance of aging nuclear reactor plants while reducing non-fuel costs. The software solution will provide the operator with the ability to monitor and report thermal performance, identify degraded components, and troubleshoot thermal performance problems. By modernizing the customer’s systems with advanced web-based engineering software, GSE’s solution will allow for continuous equipment monitoring which informs condition-based maintenance, rather than scheduled maintenance, resulting in significant cost savings as well as real-time analysis of anomalies.
TSM Enterprise technology platform is the cornerstone of GSE Solutions’ efforts to deliver software solutions for thermal performance monitoring as well as additional capabilities through expanded Engineering Programs and Dynamic Simulation Modeling. This operating company customer is also participating in GSE’s Early Adapter Program (EAP) to test drive and provide user feedback on GSE’s new software modules that extend the capabilities of its TSM Enterprise suite. “The EAP provides a platform for key customers to give feedback and shape the new software solutions to provide exceptional value and solve key challenges faced by power plants,” said Dr. Bahram Meyssami, Chief Technology Officer of GSE Solutions.
“This contract is a great extension of GSE’s strong track record of providing innovative technology and expertise that enable our customers to monitor and operate their plants safely and efficiently,” said Kyle Loudermilk, President and Chief Executive Officer of GSE Solutions. “The company has celebrated other TSM Enterprise software successes that continuously monitor multi-unit performance and support operational decisions to optimize power generation, all of which are extraordinary game changers for our customers and the industry. We are delighted to share this good news regarding TSM’s expanded adoption by the industry and the associated software and service wins for GSE.”
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