GSE Solutions Pleased with Proposed Operational Extension of Diablo Canyon Nuclear Facility in California

-  Legislation calls for $1.4 billion for necessary capital expenditures at facility to comply with extension -

COLUMBIA, Md., Sept. 6, 2022 /PRNewswire/ -- GSE Systems, Inc. ("GSE Solutions", "GSE", or "the Company") ( Nasdaq: GVP), a leader in advanced engineering and workforce solutions primarily for the nuclear power industry, which supports the future of clean energy production and overall decarbonization initiatives, announced today its pleasure that California lawmakers have overwhelmingly approved an operational extension for its sole nuclear facility, Diablo Canyon. The legislation will keep the facility open until 2030, or an additional five years. The legislation also includes a $1.4 billion loan from the state to Pacific Gas & Electric (PG&E), the utility operating the nuclear reactor, to cover necessary capital expenditures required to keep the facility open, which has been signed into law by Governor Newsom.