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* GSE Systems is headquartered in Baltimore, Maryland with offices in Georgia, Stockholm, Sweden and Beijing, China. * Stock Symbol: GVP, listed on AMEX WORLDWIDE HEADQUARTERS
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November 3, 2005 Simulator vendor GSE anticipates global renaissance in nuclear power The majority of the world's nuclear plant simulators run on GSE technology. The company, based in Baltimore Maryland, sees developing its services component as a key part of its growth strategy, according to CEO Mr. John Moran. The press release announced several contracts, totaling over $3.6 million, awarded over past 90 days "driven by the global renaissance in nuclear power which we anticipate will continue into the foreseeable future", Mr. Moran said. North American contracts include development of novel electrical system models that simulate a nuclear plant response to electric grid disturbances such as the East Coast blackout of August 14, 2003. In Europe, the Company received a major award to provide its latest simulation technology to the Kozluduy nuclear plant in Bulgaria. Kernkraftwerkes Muhleberg in Switzerland purchased an upgrade to the Company's previously delivered Plant Visualization System utilized by plant operators to provide a unique view of critical plant parameters. Finally, in Sweden, Karnkraftsakerhet och Utbildning AB (KSU) awarded the Company several projects to maintain and upgrade its fleet of seven nuclear power plant simulators. GSE also received several orders for simulation software licenses from customers in China. [Source: GSE Systems, Inc. (GSE) (Amex:GVP) press release, "GSE Systems Awarded Multiple Contracts in Resurgent Nuclear Power Simulation Market", Business Wire, November 3, 2005 10:30 PM GMT] |