Page 83 - DUBAL HOLDING PR REPORT

Page 83 - DUBAL HOLDING PR REPORT - JULY 2024

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7/10/24, 2:09 PM DUBAL Holding acquires equity stake in BioD Technology FZCO

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.