Page 75 - DUBAL HOLDING PR REPORT - JULY 2024

7/10/24, 2:06 PM DUBAL Holding Acquires Equity Stake in BioD Technology FZCO
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.

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