Affordable deep space exploration will require transformative materials for the manufacturing of next-generation transit vehicles, habitats, power systems, and other exploration systems. These building materials need to be lighter and stronger than those currently used in even the most advanced systems. US-COMP aims to develop and deploy a carbon nanotube-based, ultra-high strength, lightweight aerospace structural material within five years. Success will mean a critical change to the design paradigm for space structures. Through collaboration with industry partners, it is anticipated that advances in laboratories could quickly translate to advances in manufacturing facilities that will yield sufficient amounts of advanced materials for use in NASA missions. Results of this research will have broad societal impacts, as well. Rapid development and deployment of the advanced materials created by the institute could support an array of Earthly applications and benefit the U.S. manufacturing sector. US-COMP is a multidisciplinary team of 22 faculty members led by Gregory Odegard, principal investigator at the Michigan Technological University, in partnership with Florida State University, University of Utah, Massachusetts Institute of Technology, Florida A&M University, Johns Hopkins University, Georgia Institute of Technology, University of Minnesota, Pennsylvania State University, University of Colorado and Virginia Commonwealth University. Industrial partners include Nanocomp Technologies and Solvay, with the U.S. Air Force Research Lab as a collaborator.