The James Webb Space Telescope.

http://jwst.nasa.gov/Webb3d/

The James Webb Space Telescope, also called Webb or JWST, is a large, space-based observatory, optimized for infrared wavelengths, which will complement and extend the discoveries of the Hubble Space Telescope. It will have longer wavelength coverage and greatly improved sensitivity. The longer wavelengths enable Webb to look further back in time to find the first galaxies that formed in the early Universe, and to peer inside dust clouds where stars and planetary systems are forming today.   The telescope will be launched on an Ariane 5 rocket from French Guiana in October of 2018.
JWST will be the premier observatory of the next decade, serving thousands of astronomers worldwide. It will study every phase in the history of our Universe, ranging from the first luminous glows after the Big Bang, to the formation of solar systems capable of supporting life on planets like Earth, to the evolution of our own Solar System.

JWST was formerly known as the "Next Generation Space Telescope" it was renamed in Sept. 2002 after a former NASA administrator, James Webb.