TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preferred Method: The method (M1) involves: i) providing an agglomerated carbon nanomaterial comprising several multi-walled, graphitic carbon nanospheres (where the carbon nanospheres has an average diameter of 10-200 nm and has an irregular surface); ii) forming a solution comprising polar solvent, organic surface modifying agent, and the carbon nanomaterial; and iii) sonicating the solution to cause at least a portion of the surface modifying agent molecules to bond to the carbon nanospheres and suspend the carbon nanospheres in the polar solvent. The carbon nanospheres are ultrasonicated for at least 30 minutes; are prepared by: forming a precursor mixture comprising a carbon precursor and several templating nanoparticles and polymerizing the carbon precursor (where the templating nanoparticles comprise a catalytic metal); carbonizing the precursor mixture to form an intermediate carbon material comprising several carbon nanostructures, amorphous carbon, and optionally remaining catalytic metal; and purifying the intermediate carbon material by removing at least a portion of the amorphous carbon and optionally a portion of any remaining catalytic metal, to yield the carbon nanomaterial comprising several carbon nanostructures. The templating nanoparticles are prepared by: reacting several precursor catalyst atoms with several organic dispersing agent molecules to form complexed catalyst atoms; and allowing or causing the complexed catalyst atoms to form the templating nanoparticles. Preferred Components: The carbon nanomaterial in first step has an average particle size greater than 500 nm as measured using dynamic light scattering; and in third step has an average particle size less than 500 (preferably less than 300, especially less than 200) nm as measured using dynamic light scattering. The surface of the carbon nanomaterial has oxygen (at least 2 wt.%) as measured using X-ray photoelectron spectroscopy (XPS). The carbon nanomaterial provided in step i) has an average particle size of 500 nm to 5 mu as measured using dynamic light scattering and the carbon nanomaterial in step iii) has an average particle size less than 300 (preferably less than 200) nm as measured using dynamic light scattering. The carbon nanospheres have an asapect ratio of less than 3:1.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Components: The polar solvent comprises water, alcohol and/or tetrahydrofuran (THF) (preferably water). The surface modifying agent is selected from surfactant, organic acid, carbohydrate and/or amino acid; and has at least one functional group selected from carboxyl, amine, sulfonate, and hydroxy, especially glucose, glycolic acid, glycine, ascorbic acid, sodium dodecyl benzene sulfonate and/or trifluoroacetic acid. The surface modifying agent is biocompatible. EXAMPLE - Glucose (100 ml) in water (6 wt.%) was added to carbon nanomaterial (greater than 98% carbon nanospheres) (3 g) in a glass container. The solution was then mixed using ultrasound treatment for 2 hours, using CREST ULTRASONICS TRU-SWEEP (RTM: 68 kHz frequencies and 500 watt) to effect dispersion of nanospheres. The solution turned black indicating the dispersion of the carbon nanospheres in the water. It was observed that the dispersed carbon nanospheres (2.3 wt.%) continued to remain as stable dispersion in the water after 3 months. Thus, the sonicated carbon nanospheres with water and the surface modifying agent produced significantly smaller particle sizes that were not larger than agglomerates of 5 micron.