Cu-substituted Fe2P: An emerging candidates for magnetic RAM application

We propose that Cu-substituted Fe$_2$P, (Fe$_{1-x}$Cu$_x$)$_2$P ($x\sim 0.16$), to be an outstanding contender for the STT-MRAM application. Using first principles based calculations in the framework of density functional theory and through Monte Carlo simulations, we demonstrate that this material can be used as ferromagnetic electrode in the magnetic tunnel junction (MTJ) of STT-MRAM due to its moderate perpendicular magnetic anisotropy (PMA), large tunnel magneto-resistance (TMR), good thermal stability and high ferromagnetic transition temperature. We point out that the simplicity in the synthesis, huge abundance, and non-toxicity make this material a very good candidate to replace the current MTJ materials for STT-MRAM such as FePt,~FeCo or FeCoB.