CU Aerospace is a limited liability company that was founded in 1998. The six members (similar to partners or shareholders) serve as consultants for the company. Dr. Wayne Solomon is president and Dr. David Carroll is Engineering Director while Dr. Michael Bragg, Dr. Victoria Coverstone, Dr. Rodney Burton, and Dr. Scott White are the remaining members. All members have been or presently are faculty or staff of UIUC.

CU Aerospace is located at the Research Park at the University of Illinois at Urbana-Champaign (UIUC). The Research Park provides an environment where technology-based businesses can work with the research faculty and students at UIUC to take advantage of opportunities for collaborative research and easy access to University labs, equipment, and services.  This teaming arrangement has proven to be an excellent way to provide the government and commercial customers with the highest quality service in a cost effective manner. Located minutes from central campus, the Research Park is now home to 50 companies and growing.