Used as a redox mediator in electrochemical sensors and biosensors due to its stable quinone structure, enabling efficient electron transfer. Also employed in organic synthesis as a selective oxidizing agent, particularly in reactions requiring mild oxidation conditions. Shows potential in energy storage applications, such as in flow batteries, where its solubility and redox reversibility enhance charge-discharge efficiency. Additionally, it serves as a model compound in studies of quinone-based biological electron transport systems.