Java VM unable to start when launching RubyMine

I got some error messages after launching RubyMine 2017.2 on Ubuntu 16.04 prompting me to increase the Xmx size. So I did that and retried, Then the same error message came back, so I increased it some more and retried. This time the script that launches the IDE was not even able to get that far, and I got this message instead:

OpenJDK 64-Bit Server VM warning: INFO: os::commit_memory(0x00006bee903b2000, 335600525312, 0) failed; error='Cannot allocate memory' (errno=12)
# There is insufficient memory for the Java Runtime Environment to continue.
# Native memory allocation (mmap) failed to map 335600525312 bytes for committing reserved memory.
# An error report file with more information is saved as:
# /home/henrik/java_error_in_RUBYMINE_4845.log

Being pretty much unaware on how to resolve the issue, I ended up simply renaming the RubyMine settings folder (~/.RubyMine2017.2). This resolved the issue, but also meant that all my settings were gone. There is probably a less aggressive approach – if you know of one, please post a comment 🙂

Apparently using a setting like -e ES_JAVA_OPTS='-Xms1g -Xmx1g' should be the proper way to resolve the issue (1g here meaning 1 GB – YMMV) (source: ServerFault)