[FeFe] hydrogenase mimicking complexes containing N‐substituted naphthalene monoimide (NMI) of peri‐substituted dichalcogenides as bridging ligands have been prepared and characterized using different spectroscopic as well as by X‐ray diffraction methods. The redox behaviour has been investigated by cyclic voltammetry, IR and UV‐Vis spectroelectrochemistry (IR and UV‐Vis SEC), electron paramagnetic resonance (EPR) spectroscopy and quantum chemical simulations. IR SEC and EPR experiments combined with DFT calculations revealed the non‐innocent character of the NMI bridging ligands. EPR spectroscopy was applied to study the singly and doubly reduced state. Chemical reduction with one equivalent of Cp*2Co revealed the formation of an organic radical with a g‐value of 2.0028 at room temperature. When two equivalents of Cp*2Co were used to carry out the second reduction, no EPR signal could be detected anymore. IR SEC measurements indicate the formation of an EPR‐silent dimeric structure after the second reduction.