This is a project run by GCSE students from Reading School, in Reading, UK. The objective of our first flight (ALIEN-1) is to reach an altitude of approximately 36km (~120,000ft) and take photographs of the Earth/space horizon. We will also include two environmental temperature sensors: one external, one internal. Communication will be by one-way radio downlink, with GPS telemetry and temperature data.
For day to day happenings, visit our project blog. All of the project's code is hosted under version control at Google Code.
Launch site will almost certainly be Cambridge University (with help from the spaceflight club there). However, all decisions are obviously dependent on the weather.