Highly conducting single wall carbon nanotube (SWCNT) networks are functionalized in different ways to achieve multifunctional electrodes. Such electrode material is used as extreme light and thin gas diffusion electrodes in fuel cells. In contrast to previous work, no other carbon material is part of the electrode. We demonstrate that the performance of such SWCNT gas diffusion electrodes is comparable to regular electrodes, which are based on amorphous carbon (a-C). This allows the entire replacement of these regular carbon electrodes by such multifunctionalized SWCNT networks. This way, extremely thin and light gas diffusion electrodes are realized, potentially fulfilling the demands of light weight power supplies.