This project exploits charged particles confined as a storage ring beam (proton, deuteron, possibly $^3$He) to search for an intrinsic electric dipole moment (EDM, $vec d$) aligned along the particle spin axis. Statistical sensitivities can approach $10^{-29}$~e$cdot$cm. The challenge will be to reduce systematic errors to similar levels. The ring will be adjusted to preserve the spin polarization, initially parallel to the particle velocity, for times in excess of 15 minutes. Large radial electric fields, acting through the EDM, will rotate the polarization ($vec d timesvec E$). The slow rise in the vertical polarization component, detected through scattering from a target, signals the EDM. The project strategy is outlined. It foresees a step-wise plan, starting with ongoing COSY activities that demonstrate technical feasibility. Achievements to date include reduced polarization measurement errors, long horizontal-plane polarization lifetimes, and control of the polarization direction through feedback from the scattering measurements. The project continues with a proof-of-capability measurement (precursor experiment; first direct deuteron EDM measurement), an intermediate prototype ring (proof-of-principle; demonstrator for key technologies), and finally the high precision electric-field storage ring.
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