The Principal Investigator for the project, Dean Ahorn, has let Kentucky Space know that Nanosail-D has been resurrected and is being readied to fly on the FASTSAT-HSV1 satellite later this year. Similar in concept to the Planetary Society's Lightsail project, the 3U (unit) Cubesat packs an unbelievable amout of fabric into its diminutive body.
Use the radiation pressure of light from the stars or a laser to propel themselves forward, solar sails can in theory reach very high speeds over time.
The two spacecraft are among the very first to test the material and sails that could form the basis for a technology first envisioned by writers in the 1960s, as well as push the technology boundaries of what's possible using the Cubesat platform.
This video demonstrates how Nanosail-D will unfurl its sails.