[en] The KAON Factory will provide 30 GeV protons with 100 μA currents - 80 times more intense than available at present and capable of producing correspondingly more intense, or cleaner, beams of secondary particles, particularly kaons, antiprotons and neutrinos. To accelerate a 100 μA beam from the TRIUMF cyclotron a chain composed of two fast cycling synchrotrons and three storage rings has been proposed. Various design features, such as H^- stripping injection, high transition energy and bucket-to-bucket beam transfer, will avoid or reduce beam loss. Recent design developments are summarized, including experimental work on rf cavities and successful demonstrations of the feasibility of extracting H^- ions from the cyclotron. Progress is also reported on the acceleration of polarized protons, the rf separation of kaon beams and on magnet design near production targets. The proposal received favorable technical and economic reviews during 1986. It is now being taken forward to the Canadian government with the strong backing of the Province of British Columbia