The synthesis of the first heteroleptic, two-coordinate Fe-I complex IPr-Fe-N(SiMe3)DIPP (1) (IPr = , 1,3-2bis(2,6-diisopropylphenyl)imidazol-2-ylidene; DIPP = 2,6-Pr-i(2)-C6H3) is reported. Protonation of the Fe-II bis(amido) complex Fe[N(SiMe3)DIPP](2) followed by addition of IPr and reduction by potassium graphite in a one-pot reaction results in good yields of 1. The redox activity of 1 and comparison between 1 and its reduction ptoduct by Fe-57 Mossbauer spectroscopy are discussed, and the :reduction. was found to be metal,based lather than ligand-based. The activity of 1 toward the catalytic cyclotrimerization of terminal and internal alkynes is described.