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7/10/24, 2:12 PM DUBAL Holding acquires equity stake in BioD Technology FZCO - Middle East News 247

DUBAL Holding acquires equity stake in BioD

Technology FZCO

By Middle East News 247 July 9, 2024

In a landmark move for sustainable development in the UAE, DUBAL Holding and BiOD Technology FZCO

jointly announced DUBAL Holding’s stake acquisition in BiOD. This strategic partnership is set to propel the
UAE’s position in the global green economy, reinforcing both companies’ dedication to environmental
sustainability and innovation in the energy sector.

BiOD, the UAE’s and the GCC’s largest biodiesel manufacturer, is renowned for its pioneering work in
transforming used cooking oils (UCO) and palm oil mill effluent (POME) into clean biodiesel. As the operator

of the GCC region’s only second-generation biodiesel plant, BiOD stands at the forefront of technological
innovation in renewable energy, showcasing its commitment to the circular economy and reducing

greenhouse gas emissions by 84 per cent, as verified by its ISCC certification.

DUBAL Holding, a sovereign wealth fund with a focus on sustainable and green investments, recognizes the

strategic importance of BiOD’s mission and operations. This investment underscores DUBAL Holding’s
commitment to fostering a sustainable future and supports Dubai’s vision for a green economy. “This
partnership with BiOD aligns perfectly with DUBAL Holding’s strategic objectives of investing in

environmentally responsible and innovative businesses. We are confident that this collaboration will not only

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