The arrangement will see Glasgow-based Clyde Space build two small satellites called CubeSats to observe the changing biology of the surface ocean.
Scientists believe it has implications for the marine food chain, fisheries and climate scientists, among others.
Clyde Space said the collaboration could be a "game changer".
The project is being led by John M Morrison, Prof of Physics and Physical Oceanography at the University of North Carolina.
It also involves scientists from other organisations such as Nasa and the Hawk Institute for Space Sciences.
Clyde Space chief executive Craig Clark said: "We're extremely excited to be involved in this mission.
"Previous missions have used large satellites which come with a big price attached whereas the CubeSats are flexible, low-cost and economically viable."
Clyde Space specialises in producing small satellite, nanosatellite and CubeSat systems.
It built the UKube-1 which was launched into space from Kazakhstan in July last year.
The company which designed and built Scotland's first satellite has teamed up with US-based scientists to develop new technology to study ocean biology.