You may remember the hoverboard Michael J. Fox's character Marty McFly received in the movie "Back to The Future II" in 1989. Can such technology really exist?

Yes, reports Guardian News, thanks to Arx Pax, a small company from Los Gatos, California who created a product called Hendo that really does hover.

Hendo is the company's 18th prototype. It will hover about 1-inch (3cm) off the ground and can carry slightly over 300 pounds -- up to two people -- for about 15 minutes.

There's one catch: Arx Pax's Hendo hoverboard uses magnets, like a magnetic levitation train, and it will only hover on non-ferrous metal surfaces, such as those made of copper or aluminum. Unlike a skateboard, you can jump aboard to ride through the streets, this new technology will require special accommodations for use, but the possibilities are fun.

How the Hendo Hoverboard Works

Levitation using magnets is not new technology, but Arx Pax's discovery of how to create a static equilibrium between two magnets is.

The Hendo has a strong magnetic field that repulses a ground-based material and floats similar to how maglev trains operate. It will only float over non-ferrous metal floors or surfaces.

"About two years ago, we began investigating magnetic field architecture (MFA) and hover technology as a better way to build, move people and move materials," Arx Pax Founder Greg Henderson told Guardian News. "During our research, we discovered a way to transmit electromagnetic technology that is far more efficient than anything else. This means that our patent-pending Hendo Hover Engine technology can enable platforms to hover over non-ferrous materials with payloads of virtually any size and weight."

Henderson trademarked and patented Magnetic Field Architecture (MFA) which he envisions will not only carry a person by hoverboard, but also lift a building right out of an earthquake!

The hoverboard's four disc-shaped hover engines create a unique magnetic field which literally thrusts against itself, generating the energy to levitate the board.

Currently, Hendo creators use metal sheets as the surface over which the hoverboard glides, but they are working on new configurations and compounds to maximize use.