Page 92 - DUBAL HOLDING PR REPORT - JULY 2024

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

https://menafn.com/1108422712/DUBAL-Holding-acquires-equity-stake-in-BioD-Technology-FZCO 2/2