GSE Announces Expansion Contracts Worth $3M

COLUMBIA, Md., Nov. 8, 2022 /PRNewswire/ -- GSE Solutions ("GSE Systems" or "GSE") (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, today announced that it had been awarded two contract amendments for the continuation and expansion of specialized support services to two US Government engineering laboratories that support the Department of Defense.

The contract amendments engage GSE to provide 3D graphic design engineering services and software application support as a subcontractor to a large global engineering, construction, and project management firm.

The two new amendments to the original contract add approximately $3 million to the value of the work, which was initially valued at over $2 million, bringing the total contract value to approximately $5 million. GSE has been delivering cutting-edge technology and services under a series of contracts with the laboratories for over 20 years, with previous work tasks including the building and testing of training devices used in multiple government locations.

"These contract extensions once again reflect our customer's satisfaction with both the quality of services and innovative technology and software solutions that we provide," says Kyle Loudermilk, President and CEO of GSE Solutions. "We are proud to lend our support to efforts for the US government and look forward to providing engineering services that meet the department's mission-critical needs."

ABOUT GSE SOLUTIONS
We are the future of operational excellence in the power industry, with specialization for the nuclear power industry, as well as gas-fired and LNG applications. GSE Solutions leverages top talent and technology to provide advanced engineering services and flexible workforce solutions that support the future of clean energy. Our specialized solution teams include design and analysis, systems and simulation, programs and performance, technical staffing, and training help the power industry reduce risk, extend plant operational lifetime, and optimize performance. GSE is a proven, with over five decades of experience, more than 1,100 installations, and customers in over 50 countries spanning the globe. www.gses.com

Media Contact
Sunny DeMattio, GSE Solutions
[email protected]
P: +1 410.970.7931

Investor Relations Contact
Adam Lowensteiner, Lytham Partners
[email protected]
P: + 1 646.829.9702

SOURCE GSE Systems, Inc.