Experiments with antiprotons at LEAR and FermiLab have started a new era in hadron spectroscopy. Candidates for bound states with gluonic degrees of freedom were found and the spectroscopy in the charmonium region has reached a new level of precision. It is planned to extend measurements of this kind at GSI/Darmstadt. Antiprotons with energies up to 15 GeV will interact with a Hydrogen cluster target in a storage ring with high luminosity. The machine and the detector will be discussed together with the physics program. The main emphasis will be on the search for missing charmonium states and for charmed hybrids, but the large production rate ofDD¯‐pairs will also allow searches for rare D‐decays and for CP‐violation in the charm system. © 2002 American Institute of Physics