Page 65 - DUBAL HOLDING PR REPORT - JULY 2024

7/10/24, 2:06 PM Dubal Holding buys key stake in top UAE biodiesel group BioD

Dubal Holding buys key stake in top UAE biodiesel

group BioD

DUBAI Tue, 09 Jul 2024

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Dubal Holding, the investment arm of the Dubai government in the commodities and mining, power and energy, and industrial
sectors, has entered into a strategic deal with BiOD, the UAE's largest biodiesel manufacturer, to acquire a majority stake in the
company.

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.

Announcing the strategic move, Dubal Holding, a sovereign wealth fund with a focus on sustainable and green investments, said
this investment underscores its 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," remarked Ahmad bin Fahad, CEO of Dubal Holding.

According to him, it marks a significant milestone in the pursuit of sustainability and innovation in the energy sector.

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