This paper describes the power conditioning scheme for a contactless coilgun called the Linear Induction Launcher (LIL) as an open-loop integrated system. The barrel of the LIL consists of a linear array of coils carrying polyphase currents. These create an electromagnetic wave packet which moves with increasing velocity from breech to muzzle, smoothly accelerating a conductive sleeve which carries a set of azimuthal currents sinusoidally distributed along its length, and which encloses the projectile payload. The power conditioner provides high utilization of energy by transferring energy from capacitor to capacitor simultaneously with the projectile movement. A modular construction of the barrel is described together with laboratory results obtained with a breadboard model of the power conditioner circuit.