ChaosGroup started the Phoenix Beta program which will run for approximately 2 months starting on July 15th 2011. Phoenix FD is a plugin for Autodesk 3DsMax for simulating fluids, splashes and foam with enhanced GPU preview. The new version comes with several improvements, new features and bug fixes. All users of V-Ray and Phoenix FD for 3DsMax can obtain their license for Phoenix FD 2.0 and join the Beta program by contacting ChaosGroup support.
License is under the condition that all materials produced with this beta will not be for commercial use.
Source and full article: ChaosGroup