In this project we studied the electrical and optical properties of a new composite material consisting of cadmium selenide (CdSe) nanocrystals (NCs) dispersed in a carbon-based (i.e. organic) liquid semiconductor. The CdSe NCs are exceedingly small (each NC has a diameter about 1/10,000th the width of a human hair) and by virtue of their size exhibit unique optical properties. The liquid semiconductor phase also has unique properties; most importantly it behaves like a viscous fluid, producing a composite material that can be easily deformed and is well-suited to flexible device applications. Furthermore, both components of the composite (NC and organic phase) have the potential to be economically produced using environmentally friendly techniques. We have discovered that this composite material exhibits a range of useful electrical and optical properties that neither phase of the composite exhibit alone. Specifically, we have observed that when CdSe NCs embedded in this type of composite absorb visible light, the energy of that light is transferred to the surrounding organic phase. Once transferred to the organic phase this energy can be used to drive a chemical reaction that generates electricity. By harnessing the emergent properties of this NC/organic composite material we have created a new type of flexible nanocomposite that may be useful in solar cells, sensor applications, and display technologies.