Used as a redox-active material in organic batteries due to its stable electrochemical cycling and ability to accept and donate electrons efficiently. It serves as a cathode material in lithium-ion and sodium-ion batteries, offering potential for high energy density and long cycle life. Also investigated in dye-sensitized solar cells for its electron-transport properties and light absorption characteristics. Its deep color and stability make it suitable as a pigment in specialty coatings and inks where thermal and oxidative resistance is required. Additionally, it acts as a fluorescent probe in analytical chemistry for studying electron transfer processes.