GSE Systems

GSE Systems, Inc.
TypePublic
Nasdaq: GVP
Russell Microcap Index component
IndustryProcess Controls Operator Training Simulator Educational Software
Founded1994; 32 years ago (1994)
HeadquartersColumbia, Maryland
Key peopleRavi Khanna (CEO)
Emmett Pepe (CFO)
RevenueIncrease$34.5 Million USD (2023)
Owner
  • Pelican Energy Partners
  • (2024–present)
Number of employees
271
Websitegses.com

GSE Systems, Inc. develops and markets software-based simulation and training products to nuclear, oil, and gas electricity generators, and the chemical process industries. It also sells software for monitoring and optimizing plant and signal analysis to the power industry.

On November 1, 2024, the company announced that it had completed its merger with an affiliate of Pelican Energy Partners.

Overview

GSE Systems was established in 1994 from three simulation companies that came together. They were part of an original heritage from Singer-Link where they were involved in high-intensity simulation applications such as flight simulators.

Since 1994 the company has grown through acquisitions. The primary businesses continue to be process control focused in the chemical, pharmaceutical and food industry, and simulation, which is also focused on fossil and nuclear simulation.

GSE Systems is headquartered in suburban Baltimore, Maryland. Global operations are conducted from offices in Columbia (Maryland), Ft. Worth (Texas), and Beijing (China).

Timeline

Major Milestones

In 2011, Construction of Westinghouse AP1000 nuclear power plant simulator, a first-of-a-kind project. The simulators were built for Sanmen Nuclear Power Station and Haiyang Nuclear Power Plant in China, also Vogtle Electric Generating Plant and Virgil C. Summer Nuclear Generating Station in US.

In 1977, GSE was a pioneer provider of high-fidelity refinery and fossil power plant simulators. Since then, GSE has built more full-scope simulators than all of its competitors combined.

In 1971, GSE Systems, then Singer-Link Simulation, built one of the early stage commercial full-scope nuclear power plant simulators. During 1968-1973 period there were four simulators commissioned by nuclear steam supply system (NSSS) vendors, which were General Electric, Westinghouse, Babcock & Wilcox, and Combustion Engineering. The later two were built by Singer-Link. The first utility-owned simulator was manufactured by Singer-Link for the Consolidated Edison Company in Buchanan, N.Y., which represented Indian Point 2, was ready for training in 1975.

Major Acquisitions

GSE Systems acquired EnVision Systems in 2011. EnVision Systems, founded in 1991 and based in Madison, NJ with an office in Chennai, India, developed multimedia training software and simulation models for the petrochemical and oil and gas refining industries. Following the acquisition, EnVision's offerings were integrated into GSE Systems' simulation and training products. EnVision Systems has completed more than 750 installations in over 28 countries and served approximately 130 clients, including Shell Oil Company, BP, Total and Chevron.

References

  1. ↑ "GSE Solutions and Pelican Energy Partners Announce Closing of Merger". Pelican Energy Partners. Retrieved 2024-11-13.
  2. ↑ J. B. Gonsalves and J. E. Proctor, “Nuclear plant simulators: The past and the present.” Nuclear News, June 1987, pp. 49-55.