Phoenix Secures $15M In Contracts To Deliver Nuclear Fuel Inspection Solutions
MADISON, Wis., Aug. 16, 2018 /PRNewswire/ -- Phoenix LLC, manufacturer of the strongest compact neutron generators in the world, announced today $15M in signed contracts with two nuclear fuel manufacturers.
The Madison-based technology company recently signed an agreement to provide two nuclear fuel inspection systems for a major US company that provides a wide range of nuclear power plant products and services throughout the world. This comes just days after concluding and passing a key preliminary testing milestone under an existing contract with another US-based nuclear fuel manufacturer. The total value of these contracts is more than $15M.
"This represents a big step forward for the nuclear fuel industry as they move away from dependence on Californium-252, a radioactive material with serious cost and supply concerns," Evan Sengbusch, Phoenix LLC President said. "These important commercial agreements are representative of the growth we've seen this past year," he said. In the past year, Phoenix has doubled its staff to over 100 full and part time employees.
Phoenix's technology provides a high-flux, electronic neutron source that is a viable alternative for applications such as neutron imaging and nuclear fuel scanning that previously required nuclear reactors or radioisotopes. It is currently being adopted by government and commercial customers as a safer and more cost effective alternative for a broad range of applications in healthcare, energy, and defense.
The fuel scanners Phoenix will deliver validate that every fuel rod that goes into a nuclear reactor meets its design specifications, specifically that the fuel pellets contain uranium of appropriate enrichment. This ensures that reactors continue to operate efficiently and safely.
"Phoenix is building a track record of developing industry-disrupting technology," said Ross Radel, Phoenix CEO, referencing their accelerator-based neutron imaging systems, which is enabling neutron imaging in production settings, eliminating the logistical and cost burden associated with shipping parts to nuclear reactors. "We look forward to building on these contracts to further support the nuclear energy industry."
About Phoenix: Transforming nuclear technology since 2005, Phoenix designs and manufactures the world's strongest neutron commercial generators. Phoenix's technology is being used in the aerospace, defense, medical and energy sectors to safely improve manufacturing efficiency and quality.
SOURCE Phoenix, LLC
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