Un progetto istituito il 2 dicembre 1950 a guardare in teoria magnetica relative alla propulsione UFO. The Head Engineer Wilbert Smith stated in an interim report dated 25th June 1952: "If, as appears evident, the Flying Saucers are emissaries from some other civilization, and actually do operate on magnetic principles, we have before us the Fact that we have missed something in magnetic theory but have a good indication of the direction in which to look for the missing quantities. It is therefore strongly recommended that work on Project Magnet be continued and expanded to include experts in each of the various fields involved in these studies"