The technology stores data by changing the state of a special material from an amorphous to a crystalline structure, rather than storing data as an electrical charge, according to a joint statement.

In its early stages, the technology shows potential for high speed, high density storage of data, while retaining data even when power is turned off, they said.

Such attributes could be beneficial in applications ranging from high performance servers to consumer electronics.

The initiative combines IBM's strengths in the research of fundamental materials and physics, Infineon's competence in the development and high volume manufacturing of memory technology and Macronix's experience in non-volatile memory technology, the companies said.

'This collaborative effort reinforces IBM's commitment to explore new phenomena for memory applications,' TC Chen, vice president of science and technology at IBM Research, said.

The research work will be conducted at IBM's TJ Watson Research Centre in Yorktown Heights, New York and the IBM Almaden Research Lab in San Jose, California.