Page 106 - DUBAL HOLDING PR REPORT - JULY 2024

7/10/24, 2:12 PM PRESSR: DUBAL Holding acquires equity stake in BioD Technology FZCO — TradingView News
PRESSR: DUBAL Holding

acquires equity stake in BioD

Technology FZCO

Jul 9, 202412:44 GMT+4

Dubai: 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 contribute to

sustainable development in the UAE but also set a precedent for environmental
responsibility worldwide," said Ahmad bin Fahad, CEO of DUBAL Holding.

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