Benzinga | Dec 7, 2020 09:07AM EST

GSE Wins Multi-Year Deal With A US Oil Company For Virtual Workforce Development Solution; Terms Not Disclosed

GSE Systems, Inc. ("GSE Solutions" or "GSE") (NASDAQ:GVP), a leader in delivering and supporting end-to-end training, engineering, compliance, simulation, and workforce solutions to the power and process industry, today announced a multi-year subscription of its EnVision On-Demand software by a global manufacturer of transportation fuels and petrochemical products.

EnVision is a cloud-based Software as a Service (SaaS) workforce development solution that combines computer-based tutorials with high-fidelity simulation models allowing customers to conduct critical training anytime, anywhere.

This three-year subscription contract allows the customer's users to access ten different modules of the EnVision library, including simulations and tutorials for various process fundamentals as well as Sulfuric Alkylation, Amine Treating, Fluid Catalytic Cracking, and Sulfur Recovery. EnVision's rich learning environment was designed using core training fundamentals, custom testing and select content modules that support customers critical operational and safety strategies.

"This is an important solution for our customer and a gratifying win for GSE," said Kyle Loudermilk, President and CEO of GSE Solutions. "This opportunity proves that critical workforce development and operational training can and must continue even during a global pandemic. As a SaaS solution, EnVision ensures that our customers have comprehensive virtual simulation and training that can be more effective than traditional methods of in-person training."

EnVision teaches the fundamentals of unit operations to plant operators, engineers and management in the downstream and midstream oil and gas, process, and power industries. Students' progress at their own pace, using a structured approach, from a very fundamental understanding of equipment and system processes to more advanced concepts.

"EnVision's intuitive e-learning tutorials and dynamic simulations were developed to improve situational awareness and safety skills that produce the highest skilled operators in the industry," said Gill Grady, Senior Vice President of Corporate Business Development at GSE Solutions.

GSE Solutions supports operational excellence in the power and process industries through simulation, modeling and on-demand learning. GSE Solutions has more simulation installations than any other company in the world, with experience and deep subject-matter expertise that is reflected in EnVision and other top training solutions.

While significant, the terms of the deal have not been publicly released.