COLUMBIA, Md.--(BUSINESS WIRE)--
GSE Systems, Inc. (“GSE” or “the Company”) (Nasdaq: GVP), a leading provider of professional and technical engineering, staffing services, and simulation software to clients in the power and process industries, today announced the recent award of two contracts for three-year subscriptions to GSE’s EnVision™ Learning On-Demand platform. EnVision Learning On-Demand, GSE’s next generation learning product, provides cloud access to computer-based tutorials and simulations to train workers in fundamentals through troubleshooting complex refining processes.
Under the first contract, one of the world’s largest global petroleum refiners will expand its Envision platform to include structured learning content as well as cloud-based delivery to reduce deployment time, cost, and system maintenance. As a result, its trainees can access GSE’s complete library of content-rich tutorials and simulations for workforce development simply by logging onto the web from any location around the world.
Under the second contract, a major natural gas transmission and distribution company operating LNG import and export facilities will be expanding the use of EnVision products as part of its structured employee training program during the on-boarding of new plant operators.
In addition to access to tutorials and simulations, the EnVision Learning On-Demand platform offers courses to advance students from basic through complex topics in a structured format measured by proper assessments, enabling a well-designed instruction plan that is focused on learning outcomes and competencies.
EnVision Learning On-Demand was created in response to the industry’s need for a structured learning program offering broad and easy access to learning materials with the capability for delivering self-paced and/or instructor-led learning. The platform greatly enhances customers’ workforce development programs by facilitating experiential learning, allowing on-demand access for any student to engage with hands-on exercises within the GSE simulation platform via a web browser. Clients can further customize courses with additional content and assessments to suit their needs.
Dr. Bahram Meyssami, GSE’s Chief Technology Officer, said, “These new contracts with two major energy companies demonstrate the compelling value of our cloud-based learning platform and SaaS business model. Our customers can leverage this platform to modernize their training programs, lower their IT burdens and gain easy access to rich learning content in the form of tutorials, simulation models, and structured simulation exercises.”
ABOUT ENVISION™ E-LEARNING & UNIVERSAL SIMULATIONS
For more than 20 years GSE’s EnVision™ products have provided content-rich tutorials and simulation modules that apply to the entire range of employees, from new hire to the most experienced operators. EnVision E-Learning tutorials are an important part of the blended learning approach embodied in the EnVision training model. The power behind EnVision is engaging multi-media functionality that makes learning interesting. Self-paced tutorials teach fundamentals of various unit operations and process controls so that trainees can acquire the basic knowledge they need to progress to more process-specific instruction. Learning management software enables instructors to control the process, register trainees, review test scores, and monitor their overall performance.
EnVision Universal Simulators provide 80% of the required operational knowledge trainees need at about 20% of the cost of a custom operations training solution (OTS). This efficiency results from the fact that the system configurations of EnVision universal simulators are typical unit operations – not an exact plant. Customers gain the same high-fidelity response as a custom OTS without the high cost of providing custom simulation solutions for each and every one of their units.
Combining universal simulator applications with e-learning tutorials enables students to practice and apply immediately what they have learned for better comprehension and knowledge retention.
ABOUT GSE SYSTEMS, INC.
GSE Systems, Inc. is a leading provider of professional and technical engineering, staffing services, 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 Sykesville (Baltimore), Maryland, with offices in Columbia, Maryland, Navarre, Florida, Montrose, Colorado, 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.
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