The Physikalisch-Technische Bundesanstalt (PTB), the German national metrology institute, has set up the lowenergy electron storage ring Metrology Light Source (MLS) in close cooperation with BESSY. This new storage ring is dedicated to synchrotron-radiation-based metrology and technological developments in the IR, UV, VUV and EUV spectral range. As the very first dedicated THz storage ring source it can be operated in a special low-α mode for the generation of short electron bunches. In this mode MLS will deliver coherent radiation in the far-IR/THz spectral range with enhanced intensity as compared to the normal mode of operation. The electron energy can be tuned to any value from 100 MeV, the injection energy, up to 600 MeV and the electron beam should cover the range from one stored electron (1 pA) up to 200 mA. The installation of the storage ring was completed in April 2007 [1], first beam could be stored 5th June 2007.