Page 59 - DUBAL HOLDING PR REPORT - JULY 2024

7/11/24, 12:05 PM DUBAL Holding Acquires Stake in BioD Technology FZCO, Boosting UAE's Green Economy
region, BioD is a leader in renewable energy innovation, significantly reducing greenhouse gas
emissions by 84%, as verified by its ISCC certification.
DUBAL Holding, a sovereign wealth fund with a focus on sustainable and green investments,
recognizes the strategic value of BioD’s mission and operations. This investment highlights
DUBAL Holding’s dedication to promoting a sustainable future and aligns with Dubai’s vision for
a green economy. Ahmad bin Fahad, CEO of DUBAL Holding, stated, “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.”
Echoing this enthusiasm, 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.
The collaboration between DUBAL Holding and BioD Technology FZCO marks a significant
milestone in the pursuit of sustainability and innovation within the energy sector. It not only
emphasizes the UAE’s leadership in green technology but also exemplifies how strategic
partnerships can drive substantial progress towards a cleaner, more sustainable future.

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