Used as a catalyst in electrochemical reactions, particularly in fuel cells for oxygen reduction. Enhances efficiency in energy conversion due to its stable macrocyclic structure and redox-active metal center. Also applied in sensors for detecting gases like nitric oxide and hydrogen peroxide. Employed in dye-sensitized solar cells and as a photodynamic therapy agent due to light absorption in the visible range. Shows potential in conductive materials and organic electronics because of its electron-transfer properties.