This paper presents a voltage sag compensator, which uses a flywheel energy storage system with superconducting magnetic axial thrust bearing (SMB) and a permanent magnet radial bearing (PMB). The SMB was built with Nd-Fe-B magnet and YBCO superconducting blocks, refrigerated with liquid Nitrogen. The magnets are assembled with magnetic flux shapers in order to increase the levitation force and the stiffness. The radial PMB is used to positioning the vertically arranged switched reluctance machine (SRM) used as motor/generator. Simulations of the power electronics and SRM show that the system can work up to 30,000 rpm supplying the required energy during disturbances.