Giant Magnetoelectric Effect in HoAl₃(BO₃)₄

A giant magnetoelectric polarization is found in HoAl$_3$(BO$_3$)$_4$. The polarization in transverse field geometry at 70 kOe reaches 3600 $\mu C/m^2$ which is significantly higher than reported values of linear magnetoelectric or even multiferroic compounds. The magnetostrictive effect is also measured and compared with the magnetoelectricity. The results show that spin-lattice coupling in HoAl$_3$(BO$_3$)$_4$ is extremely strong and that the magnetic field causes a large polar distortion of the ionic positions in the unit cell.