Page 53 - DUBAL HOLDING PR REPORT - JULY 2024

7/11/24, 12:04 PM DUBAL Holding takes equity stake in BioD Technology
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.

Echoing this sentiment, BiOD’s CEO, Shiva Vig, expressed profound gratitude and optimism about the
future.

“We are thrilled to welcome DUBAL Holding as a strategic partner. This is not just an investment in our
company but a testament to our shared vision for a sustainable future. We are proud to contribute to
the UAE’s green economy and look forward to making even greater strides in renewable energy with
DUBAL Holding’s support. I also want to acknowledge our advisors at Ideal Capital for their crucial role

in facilitating this deal,” Vig stated.

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