Here’s what they have to say about it:
PHASIS is a brand new phaser. It offers timeless phasing sounds – adding movement, soul, and creative magic to any signal.
PHASIS draws inspiration from classic phasers but adds powerful new features for never-heard-before results. The Spread control changes the spacing of the phaser’s notches, for vocal-style effects. Ultra mode pushes modulation to ultra high rates, producing unique FM-esque tones.
It’s available as a free download (email required) via the NI site.