  The proposed method exploits charged particles confined as a storage ring
beam (proton, deuteron, possibly $^3$He) to search for an intrinsic electric
dipole moment (EDM) aligned along the particle spin axis. Statistical
sensitivities could 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 polarisation, initially parallel to the particle velocity,
for times in excess of 15 minutes. Large radial electric fields, acting through
the EDM, will rotate the polarisation from the longitudinal to the vertical
direction. The slow rise in the vertical polarisation component, detected
through scattering from a target, signals the EDM.
  The project strategy is outlined. A stepwise plan is foreseen, 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 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 a high-precision electric-field
storage ring.
