The present invention relates to an alloy comprising a first element A, a second element B, a third element C, and a fourth element D. In the alloy, first element A and second element B are present as a binary compound AB, and third element C and fourth element D are present as a binary compound CD. In addition, the alloy is substantially free from binary compounds AD, BC, AC, and BD. These alloys can be characterized as semiconducting, quasi-binary, single phase alloys having the formula (AB).sub.x (CD).sub.1-x, where x is between 0 and 1 and where A, B, C, and D are different. The present invention also relates to a method of producing an alloy. The method includes providing a first binary material AB and providing a second binary material CD. The first binary material AB and the second binary material CD are contacted under conditions effective to mix the first binary material AB and the second binary material CD without decomposing either the first binary material AB or the second binary material CD. The quasi-binary alloys of the present invention are substantially different from the typical quaternary A.sub.x B.sub.1-x C.sub.y D.sub.1-y alloys that are prepared using known conventional methods. In addition, alloys of the present invention are significantly less expensive and have structural, optical, and electrical properties that are significantly different when compared to conventional quaternary alloys and growth techniques, making them particularly well suited for use as semiconductors, such as for the thermo-voltaic generation of electricity and infrared detection.