Real-time detection and generation of single microwave photons would be important in many quantum technology applications. For single-microwave-photon sources, much of the groundwork has been done already within the framework of circuit quantum electrodynamics (cQED) in the frequency range 4 GHz - 8 GHz. However, currently there are no detectors that can reliably resolve single microwave photon events, unlike at optical frequencies. In June 2013, we started a joint research project to develop both microwave detectors and sources working at the single-photon level as a final goal. All devices operate at cryogenic temperatures, most of them below 100 mK. We also aim at improving the performance of other cryoelectronic quantum devices by understanding and eliminating the detrimental effects caused by microwave radiation. The work is done in project MICROPHOTON of the European Metrology Research Programme (EMRP). The goals and status of the project will be described in the presentation.