The CubeSat Ambipolar Thruster is a new, electrodeless, permanent magnet, helicon thruster specifically designed for the constraints of a nanosatellite. The design processes is outlined, indicating expected thrust, Isp, and efficiency of ∼ 1 mN, ∼ 1000 s, and 20%, respectively. The major components of the thruster-quartz plasma liner, helical half-twist antenna, permanent magnets, and Faraday shield-are described. Finite element magnetic field simulations were compared to magnetometer measurements of the prototype device and showed agreement to within 5%. Initial testing on xenon demonstrated ignition at < 50 W. The electrodeless design enables the use of a wide variety of propellants and a discussion of iodine's potential as a propellant is included.