GSE Solutions Awarded $765K Contract for Nuclear Engineering Services for a 24-month Fuel Cycle Operation

COLUMBIA, MD - April 16, 2024- GSE Solutions ("GSE Systems, Inc." or "GSE") (Nasdaq: GVP), a leader in advanced engineering and workforce solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, today announced a significant contract has been secured to deliver nuclear engineering services for a 24-month fuel cycle operation to a major utility company based in the United States.

The transition from 18- to 24-month fuel cycles reduce plant outages, enhances fuel reliability and operational margins for utilities without requiring additional measures like increased burnup and enrichment levels. This shift improves power generation facilities' efficiency and stability.

The project involves a tailored approach to achieving 24-month fuel cycles for a prominent nuclear generating station, where refueling is a critical step in continued operation and the change to a 24 month fuel cycle provides major cost savings. This award, valued at approximately $765K, is through a GSE partnership with the fuels provider. The contract agreement includes GSE management of several complex engineering programs delivered directly to the nuclear power plant.

This continues to showcase GSE Solutions' expertise and leadership in the nuclear industry. The contract highlights the trust and confidence placed in GSE Solutions to deliver top-notch services for critical operations. With this project, GSE Solutions continues to demonstrate its commitment to excellence and innovation in the field of nuclear engineering.

GSE Engineering, Programs & Performance (formerly True North Consulting) has been a trusted name in nuclear power plant programs for over two decades, which makes supporting the 24-month fuel cycle operation project an excellent fit. The GSE solutions involved in this recent award include:

• Inservice Inspection (ISI) Program
• Boric Acid (BACC) Program
• Inservice Testing (IST) Program
• Appendix J Program
• Environmental EQ Program
• Flow Accelerated Corrosion (FAC) Program
• Aging Management Programs (AMPs)

"By supporting customers in achieving improved production durations, we can uphold nuclear energy as a competitive option for clean energy production. This commitment ensures that nuclear power remains a cost-effective and eco-friendly solution," said Damian DeLongchamp, Vice President of GSE Engineering, Programs & Performance Group. "GSE leverages our extensive Engineering Programs expertise to offer innovative solutions that enhance the efficiency of customers' current power generation assets. Our commitment to optimizing fuel operations reflects our dedication to driving progress in the industry."

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