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 collboration, 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\protect\footnote{Charged Particle Electric Dipole Moment Collaboration \protect\url{http://pbc.web.cern.ch/edm/edm-default.htm}}, 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.