Used as a catalyst in organic synthesis, particularly in cross-coupling reactions such as Kumada and Negishi couplings, enabling the formation of carbon-carbon bonds. Its solubility in organic solvents due to the dimethoxyethane ligand enhances reactivity in homogeneous reaction systems. Also employed in the study of coordination chemistry and as a reagent in the preparation of other iron-based complexes. Shows utility in polymerization reactions and in the development of magnetic materials due to its paramagnetic properties.