The vast range of C₆₀ derivatives makes it difficult to assess the potential environmental impact of this class of materials, while past environmental studies mostly focused only on pristine C₆₀. Central to derivatized C₆₀'s potential to negatively impact (micro)biological receptors upon unintended release is its unique property of mediating the transfer of light energy to ambient oxygen, producing ¹O₂. To initiate the process of establishing a thorough understanding of the photoinduced adverse biological effects of functionalized fullerenes and their aqueous dispersions, the photochemical properties relevant to ¹O₂ production were evaluated using three selected series of mono-, bis-, and tris-adducted fullerene materials. Differential ¹O₂ production of derivatives in toluene were explained by spectral variations under visible and UVA light conditions. Of the nine functionalities studied only aggregates of two positively charged derivatives showed significant photoactivity under experimental conditions. Laser flash photolysis revealed a triplet excited state in the photoactive aggregates with a sufficiently long lifetime to be quenched by ³O₂. Dynamic light scattering, transmission electron microscopy, and electron diffraction patterns revealed aggregates with sizes typical of aqueous C₆₀ colloids that varied in crystallinity based on functionality. Results raised questions about our current understanding of the photoactivity of fullerene aggregates.