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7/11/24, 1:04 PM DUBAL Holding acquires equity stake in BioD Technology FZCO

Futures and Commodity Market News
DUBAL Holding acquires equity stake in BioD Technology
FZCO

Jul 09, 2024 (MENAFN via COMTEX) --

(MENAFN - Orient Planet Group) Dubai, 09 July 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 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.
The collaboration between DUBAL Holding and BiOD marks a significant milestone in the pursuit of sustainability and
innovation in the energy sector. It not only highlights the UAE's leadership in green technology but also sets a powerful
example of how strategic partnerships can drive substantial progress towards a cleaner, more sustainable future.

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