TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preferred Component: The inorganic molecule is zinc oxide, titanium oxide and/or cadmium selenide.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Component: The organic small molecule is phthalocyanine derivative, croconine derivative, squarine derivative, perylene diimide derivative or fullerene derivative, preferably fullerene derivative.    TECHNOLOGY FOCUS - POLYMERS - Preferred Process: The mono functionalized regioregular poly(3-substituted thiophene) is reacted with partial modified or fully modified single wall or multi wall carbon nanotube to obtain the multifunctional material. Preferred Component: An active layer contains blend of poly(3-substituted thiophene), conjugated polymer(s), organic small molecules, inorganic molecules, and single wall or multi wall carbon nanotube. The conjugated polymer(s) is block copolymer, random copolymer, periodic copolymer and alternating polymer, preferably poly(p-phenylene vinylene), substituted poly(p-phenylene vinylene) and derivatives of poly(p-phenylene vinylene), polythiophene, substituted polythiophene, regioregular poly(3-substituted thiophene) and regiorandom poly(3-substituted thiophene), polyfluorene, substituted polyfluorene and derivatives of polyfluorene, polyoxadiazole, and polyquinoline, more preferably a cyano-substituted polythiophene of formula (II). EXAMPLE - Phenol-terminated regioregular poly(3-octylthiophene) (22 mg), aminoethanol modified single wall carbon nanotube (15 mg) and triphenylphosphine (20.06 mg) were added in flask. Dimethylformamide (10 mL) and tetrahydrofuran (10 mL) were placed in reaction flask and sonicated for 15 minutes. Diisopropylazo dicarboxylate (15 mu L) was then added in the reaction mixture, and flask was degassed and filled with argon several times. The reaction mixture was stirred at 80 degrees C for 24 hours under argon atmosphere. Then, triphenylphosphine (20.06 mg) and diisopropylazo dicarboxylate (15 mu L) were placed in flask, reaction was carried out at 80 degrees C for 24 hours under argon atmosphere, cooled to room temperature, and suspension was sonicated and centrifugated to remove unreacted nanotube derivative. The solution was filtered, and brownish solid was washed several times with dimethylformamide. Chloroform was added to remove excess of phenol-terminated regioregular poly(3-octylthiophene), and diethyl ether was added to obtain regioregular poly(3-octylthiophene) modified single wall carbon nanotube (32 mg). The obtained regioregular poly(3-octylthiophene) modified single wall carbon nanotube had excellent optoelectronic properties and chemical stability.