What is a space elevator?
A Space Elevator, or more specifically the LiftPort Space Elevator, will consist of a ribbon made of a very strong and very light material, carbon nanotubes, anchored to the Earth's surface at the LiftPort Station with the other end reaching into space. By making the ribbon long enough, and attaching a small satellite as counterweight, the Earth's rotation will provide enough centrifugal effect to overcome the pull of gravity and keep the ribbon taut. The LiftPort Space Elevator will then provide a permanent bridge between earth and space. Elevator cars will be robotic "lifters" which will climb the ribbon to deliver cargo and eventually people to orbit or beyond.
http://www.liftport.com/