A novel perylene bisimide derivative, N,N'-Bis(9, 9, 9', 9'-tetraoctyl-bisfluoren-2-yl)-3, 4:9, 10-perylene bisimide (BFPBF), has been successfully synthesized via a condensation reaction. The new compound having a donor-acceptor-donor (D-A-D) structure is soluble in common organic solvents such as chloroform and toluene and thus can be easily processed by wet techniques such as spin-coating. BFPBF is thermally stable with a decomposition temperature (T(d)) above 430 degrees C and exhibits a glass transition temperature (T(g)) of 160 degrees C under nitrogen atmosphere. Electrochemical investigation indicates that BFPBF has a LUMO level of -4.07 eV which is similar to that of [6,6]-phenyl C(61) butyric acid methyl ester (PCBM). Bulk heterojunction photovoltaic device was fabricated using a blend of poly (3-hexylthiophene) (P3HT) and BFPBF (1:1, w-w) as an active layer and power conversion efficiency of the device was 0.13% under simulated solar light AM 1.5 G (100 mW/cm(2)). (C) 2010 Elsevier B.V. All rights reserved.