GSE Systems, Inc. (“GSE” or “the Company”) (Nasdaq: GVP), a leading provider of engineering, expert staffing, and simulation software to clients in the power and process industries, today announced that its True North Consulting subsidiary has become a new specialty engineering partner with the Utility Services Alliance (“USA” or “Alliance”). Consisting of nine nuclear plant sites across the United States, USA is a not-for-profit cooperative designed to facilitate collaboration among its member utilities. Together, members strive to improve safety and performance, provide innovation and leadership within the nuclear power industry, while reducing operating and maintenance costs.
Improving access to and use of industry expertise is an important strategy as the nuclear industry continues to explore creative approaches to improve efficiency and reduce costs to customers. True North is at the forefront of applying these strategies to engineering programs and plant thermal performance. True North’s strategic direction aligns well with Alliance objectives and will aid in meeting the economic and technical challenges faced by Alliance members.
Alliance members benefit from assurances that work is performed by industry experts based on regulator-accepted programmatic positions, while streamlining levels of client technical staff and supervisory requirements.
True North’s services encompass the full spectrum of engineering program and plant thermal performance requirements, addressing program development, updates, and implementation. Detailed training courses and software products are available to enhance True North’s value proposition for customers.
These services and products are available across regulation-driven programs, such as in-service testing, in-service inspection, and containment leak rate programs. Additionally, True North offers balance of plant programs, including flow accelerated corrosion, heat exchangers, and buried piping. True North is an industry leader in plant thermal performance, including power calculation evaluation and application of data validation / reconciliation techniques through both expert services and specialized software programs.
True North invests significantly in support of industry initiatives related to scope optimizations or reductions, inclusive of 10 CFR § 50.69 and other risk-based techniques, extending the inherent value to our customers.
Don Horn, President of True North Consulting said, “Becoming a Utility Services Alliance partner not only provides GSE with broader direct access to these important customers, but also benefits Alliance members through advantageous pricing across the entire Alliance.”
Learn more about True North Consulting’s capabilities at http://www.tnorthconsulting.com
ABOUT GSE SYSTEMS, INC.
GSE Systems, Inc. is a leading provider of engineering, expert staffing, and simulation software to clients in the power and process industries. GSE’s products and services are tailored to help customers achieve performance excellence in design, training, compliance, and operations. The Company has over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. GSE Systems is headquartered in Maryland, with offices in Alabama, Florida, Colorado, Texas, and Beijing, China. Information about GSE Systems is available at www.gses.com.
FORWARD LOOKING STATEMENTS
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. We do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.