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7/10/24, 2:06 PM DUBAL Holding Acquires Equity Stake In BioD Technology FZCO - Channel Post MEA

DUBAL Holding Acquires Equity Stake In BioD Technology FZCO
BY: DEEPAK SINGH ON: JULY 9, 2024 IN: NEWS

DUBAL Holding and BiOD Technology FZCO have 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.
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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