  The Standard Model (SM) of Particle Physics is not capable to account for the
apparent matter-antimatter asymmetry of our Universe. Physics beyond the SM is
required and is either probed by employing highest energies (e.g., at LHC), or
by striving for ultimate precision and sensitivity (e.g., in the search for
electric dipole moments). Permanent electric dipole moments (EDMs) of particles
violate both time reversal $(T)$ and parity $(P)$ invariance, and are via the
$CPT$-theorem also $CP$-violating. Finding an EDM would be a strong indication
for physics beyond the SM, and pushing upper limits further provides crucial
tests for any corresponding theo\-retical model, e.g., SUSY. Up to now, EDM
searches focused on neutral systems (neutrons, atoms, and molecules). Storage
rings, however, offer the possibility to measure EDMs of charged particles by
observing the influence of the EDM on the spin motion in the ring. Direct
searches of proton and deuteron EDMs, however, bear the potential to reach
sensitivities beyond $10^{-29}$ e$\cdot$cm. Since the Cooler Synchrotron COSY
at the Forschungszentrum J\"ulich provides polarized protons and deuterons up
to momenta of 3.7 GeV/c, it constitutes an ideal testing ground and starting
point for such an experimental program. Besides the discussion of the
achievements of the JEDI collaboration, and the description of an effort to
perform a first direct deuteron EDM measurement at COSY, the report highlights
in addition future technical developments that will pave the way toward EDM
searches in dedicated rings. A recent advancement that grew out of the
successful work performed by JEDI is the formation of the CPEDM Collaboration,
which aims at the design of an EDM prototype ring that could be hosted either
at CERN or at COSY, will be discussed as well.
