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A new type of memory chip that a startup company has just begun to test could give future smartphones and other computing devices both a speed and storage boost. The technology, known as crossbar memory, can store data about 40 times as densely as the most compact memory available today. It is also faster and more energy efficient.

The technology’s ability to store a lot of data in a small space could see it replace the flash memory chips that are the basis of memory cards, some hard drives, and the internal storage of mobile devices. Data can be accessed and written to crossbar memory fast enough to see it also possibly compete with DRAM, used as short-term memory, in computing devices. The technology is significantly more energy efficient than both flash and DRAM.

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