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A novel nonvolatile nanoelectromechanical (NEM) memory (nRAM) is introduced. Differently than the previously proposed NEM memories, the nRAM achieves the nonvolatility via workfunction engineering and eliminates the need for cell selection devices in a crossbar array using a displacement current-based read scheme. Furthermore, the configuration of the nRAM is such that the elastic potential energy due to the beam bending is reversibly used for switching, which enables to combine ultralow operation voltages with high switching speed. For F = 20 nm feature size and optimized margins, the nRAM cell is estimated to operate at plusmn180 mV, dissipate 10 aJ switching energy, and achieve < 10 ns switching delay.