Page 72 - DUBAL HOLDING PR REPORT - JULY 2024

7/10/24, 2:06 PM DUBAL Holding acquires equity stake in BioD Technology FZCO | CXO Insight Middle East
DUBAL Holding Acquires Equity Stake In BioD Technology FZCO

By CXO Staff On Jul 9, 2024 SUSTAINABILITY

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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 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.

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