Phoenix Nuclear Labs said Tuesday it has signed a contract to supply a thermal neutron generation system to a British facility later this year.
The sale to Ultra Electronics’ Nuclear Control Systems business marks the first large-scale commercial contract for Phoenix Nuclear Labs, which to date has been funded primarily by government grants and private investment, the Monona-based company said.
Financial terms of the contract weren’t disclosed, but Phoenix also said it recently closed on $1.15 million in private equity funding and has received approval for an additional $250,000 in loans from the Wisconsin Economic Development Corp. to help it hire more people and build out its manufacturing infrastructure.
Read more at the Milwaukee Journal Sentinel.