The present research work is focused on the development and characterization of light weight microporous carbonaceous material, such as graphite (53-150 micron) incorporated with either titanium n-butoxide, titanium diisopropoxide bis(2,4-pentanedionate), vanadium 2,4-pentanedionate or zinc 2,4-pentanedionate having varying wt% of the metal (2-8%) using 2-propanol/ethanol as solvent at 40-50 degrees C. The calcination has been carried out at 100, 150 and 200 degrees C, except the samples with titanium diisopropoxide bis(2,4-pentanedionate) which are calcined at 80 degrees C. FESEM along with atomic absorption studies revealed that the maximum incorporation of metals (Zn, V and Ti) in graphite has been observed with 4 wt% of zinc 2,4-pentanedionate calcined at 100 degrees C, 4 wt% of vanadium 2,4-pentanedionate calcined at 100 degrees C, 4 wt% of titanium n-butoxide calcined at 100 degrees C and 2 wt% of titanium diisopropoxide bis(2,4-pentanedionate) calcined at 80 degrees C, and equilibration time of 20-24 h has been used in each case. These samples may be used for hydrogen storage.