Digital information is currently stored on devices using small particles of magnetic materials. Technological advances demand smaller magnetic particles to increase the density of information storage. One of the most exciting discoveries in recent years is a class of molecules termed Single Molecule Magnets (SMMs) that behave like tiny bar magnets. Potentially, a vast amount of information could be stored on a very small amount of material, provided SMMs can operate effectively at high enough temperatures. The aim of the project is to identify the factors required to make high-performance SMMs by harnessing the excellent facilities and expertise available at the Paul Scherrer Institut. Our specific goal is to synthetise and charaterise a new class of SMMs containing heavy transition metal and lanthanide metal ions.