COLUMBIA, Md., June 7, 2016 /PRNewswire/ -- Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) announced today that it has been selected by National Grid, an electricity and gas supplier in the UK and northeastern US, as its Managed Services Integrator to provide global learning services. Under the initial three-year agreement, GP Strategies will support National Grid's transition to a new learning operating model in order to help meet the requirements of the UK Office of Gas and Electricity Markets (Ofgem) controls under their Revenue = Incentives + Innovation + Outputs (RIIO) model.
The RIIO requirement (valid 2013–2021) offers network companies incentives for securing investment and driving innovation to ensure the delivery of sustainable energy networks for current and future customers at the lowest cost. As a strategic partner, GP Strategies will help National Grid drive global consistency, efficiencies and cost-effective ways of working, enabling the learning function to deliver improved performance and achieve business outcomes.
Scott Greenberg, Chief Executive Officer of GP Strategies, stated, "GP Strategies continues to develop its unique platform to differentiate itself from its competitors when it is critical to provide learning services to organizations on a global basis. When fully implemented, we anticipate that National Grid will be one of our largest customers in the global electricity and gas transmission and distribution sector and will add to our already large customer base in the power generation and liquefied natural gas utilities markets."
About National Grid (UK)
National Grid is an international electricity and gas company and one of the largest investor-owned utilities in the world. It is the largest utility in the UK and the second largest utility in the US, with a focus on delivering energy safely, reliably and efficiently. National Grid also has interests in related markets, including metering services, liquefied natural gas facilities and property in the UK, as well as electricity and gas interconnectors in the UK and US. Its principal interests in the transmission and distribution of electricity and gas are regulated and monitored closely in terms of investment, operating costs, service quality and safety. Additional information may be found at www.nationalgrid.com/uk.
About GP Strategies Corporation
GP Strategies (NYSE: GPX) is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior engineering, training, consulting and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com.
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," "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. Except as required by law, 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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SOURCE GP Strategies Corporation