In this paper, we investigate CoFeCrAl alloy by means of various experimental techniques and ab-initio calculations to look for half-metallic nature. The alloy is found to exist in the cubic Heusler structure, with presence of B2 ordering. Saturation magnetization (MS) value of about 2 Bohr magneton/f.u. is observed at 8 K under ambient pressure, which is in good agreement with the Slater-Pauling rule. MS values are found to be independent of pressure, which is a prerequisite for half-metals. The ab-initio electronic structure calculations predict half-metallic nature for the alloy with a spin slitting energy of 0.31 eV. Importantly, this system shows a high current spin polarization value of 0.67 [with error of 0.02], as deduced from the point contact Andreev reflection (PCAR) measurements. Linear dependence of electrical resistivity with temperature indicates the possibility of reasonably high spin polarization at elevated temperatures (~150 K) as well. All these suggest that CoFeCrAl is a promising material for the spintronic devices.
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