A tech-based start-up, Magma Space is strucrured around bringing a new concept of magnetic bearing to the space community without compromising power requirements or performance. Havign successfuly bid for Phase II SBIR support (NASA Goffard) the firm is currently now working on a magnetically levitated reaction wheel. In the firm's pipeline, the firm's principal(s) plan several more innovative R&D projects for public and private sector application. Managemen's primary focus is on development of new mechanisms, - for both space and terrestrial applications - designed to benefit from proposed new class of high-efficiency, low-power, long-life magnetic bearings.