GSE Solutions Awarded Contract by Major Utility Company for Nuclear Flow Accelerated Corrosion Update Services

COLUMBIA, Md., June 25, 2024 /PRNewswire/ -- GSE Solutions ("GSE Systems, Inc." or "GSE") (Nasdaq: GVP), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, today announced contracts worth more than $700k for the provision of services related to Flow Accelerated Corrosion (FAC) and Erosion programs for a large east-coast utility based in the United States.

Due to the aging nuclear fleets and the growing demand for environmentally friendly energy sources, power plants must regularly carry out License Renewal activities to prepare for Subsequent License Renewals. These activities prompt various modifications within the facilities that have an impact on the programs addressing Flow-Accelerated Corrosion (FAC) and Erosion. Upgrades to the FAC and Erosion programs become necessary to address these issues effectively.

The agreement requires GSE to carry out the specified Scope of Work (SOW) from Fall 2024 to Spring 2030 and will utilize the Electric Power Research Institute (EPRI) guidance documents, industry standards and best practices.

The SOW consists of the following tasks:

• FAC Program Subject Matter Expertise Review Scope
• FAC Program Updates
• FAC System Susceptibility Evaluations at two of the customer locations
• Erosion Susceptibility Evaluation Updates

GSE has been supporting this client since 2017 and is well-acquainted with the client's FAC procedures, protocols, locations, and staff members. The team has extensive expertise in the nuclear industry, with over 100 years of combined experience globally, helping with FAC, Erosion, and License Renewal for this specific project. They also have vast experience using supplemental program software tools that will help provide a faster, more complete "turnkey" solution.

"The previous assistance provided by GSE to this client, along with their familiarity with the programs, reflects positively on the team's expertise in nuclear engineering," stated Damian DeLongchamp, COO of GSE Solutions. "We are grateful for the continued trust our clients place in us, which not only strengthens our relationship but also leads to cost efficiencies due to our in-depth understanding of their operations."

"For more than fifty years, GSE has built a strong reputation in the field of nuclear power plant programs and maximizing value to our customers," stated Ravi Khanna, President and CEO of GSE Solutions. "Our expertise lies in ensuring the optimal operation of nuclear plants while adhering to regulatory requirements and obligations. These are crucial services that our clients are increasingly seeking, particularly as many are in the process of or will soon seek License Renewal support."

ABOUT GSE SOLUTIONS
Proven by more than 50 years of experience in the nuclear power industry, GSE knows what it takes to help customers deliver carbon-free electricity safely and reliably. Today, GSE Solutions leverages top talent, expertise, and technology to help energy facilities achieve next-level power plant performance. GSE's advanced Engineering and Workforce Solutions divisions offer highly specialized training, engineering design, program compliance, simulation, and technical staffing that reduce risk and optimize plant operations. With more than 1,100 installations and hundreds of customers in over 50 countries, GSE delivers operational excellence. www.gses.com

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SOURCE GSE Systems, Inc.

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