Used as a catalyst in hydroprocessing reactions, particularly in the removal of sulfur and nitrogen from crude oil and petroleum fractions. Exhibits good activity and stability under high-temperature and high-pressure conditions. Investigated for use in electrochemical applications, such as electrodes in batteries, due to its conductivity and structural properties. Also explored in the synthesis of iron-based alloys and as a precursor in the production of phosphorus-containing compounds. Shows potential in environmental applications for the reduction of pollutants in water and soil.