Page 68 - DUBAL HOLDING PR REPORT - JULY 2024

7/10/24, 2:06 PM DUBAL Holding acquires equity stake in BiOD Technology
BiOD is renowned for converting used cooking oils (UCO) and palm oil mill effluent (POME) into clean biodiesel.

Operating the GCC region’s only second-generation biodiesel plant, BiOD has been actively contributing to the
circular economy and reducing greenhouse gas emissions by 84 per cent, as verified by its ISCC certification.

Image: Supplied

Dubal Holding and BiOD to support the circular economy
The strategic partnership aims to enhance the UAE’s position in the global green economy, reflecting both
companies’ commitment to environmental sustainability and innovation in the energy sector.

“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 .

BiOD’s CEO, Shiva Vig, added: “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.”

Read: Empowering the circular economy

BIOD BIOFUELS CIRCULAR ECONOMY CLIMATE

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