The extremely sterically hindered borane tris(2,2',2 ''-perfluorobiphenyl)borane (PBB) has been structurally characterised. In combination with bulky nitrogen bases, it forms the 'frustrated Lewis pairs' (FLPs) PBB/2,2,6,6-tetramethylpiperidine (TMP) (1), PBB/1,4-diazobicyclo[2.2.2]-octane (DABCO) (2) and PBB/2,6-lutidine (lut) (3). These novel, unquenched acid-base pairs have been shown to effect facile room temperature heterolytic cleavage of dihydrogen to form the ammonium borate salts [2,2,6,6-Me4C5H6NH2][HB(C12F9)(3)] (4) and [N(C2H4)(3)NH][HB(C12F9)(3)] (5), and lutidinium borate [2,6-Me2C5H3NH][HB(C12F9)(3)] (6). Although these reactions are equilibria, the reverse reaction and release of hydrogen gas was not apparent at temperatures up to 120 degrees C. The relative Lewis acidity of PBB has been determined using the Gutmann-Beckett method.