Page 96 - DUBAL HOLDING PR REPORT - JULY 2024

7/10/24, 2:11 PM DUBAL Holding Strengthens UAE's Green Push with BioD Technology Investment
DUBAL Holding Strengthens UAE's

Green Push with BioD Technology

Investment

22 hours ago 2

DUBAI, United Arab Emirates - In a move
signifying the UAE's commitment to
sustainable development, DUBAL
Holding, a prominent sovereign wealth
fund, announced the acquisition of an
equity stake in BiOD Technology FZCO,
the leading biodiesel producer in the UAE
and the wider GCC region. This strategic
partnership is expected to solidify the
UAE's position as a frontrunner in the
global green economy.

ng.com

BiOD Technology is renowned for its innovative approach to fuel production. The company
specializes in transforming used cooking oil (UCO) and palm oil mill effluent (POME) into
clean-burning biodiesel. Notably, BiOD operates the only second-generation biodiesel plant
in the GCC, actively contributing to the circular economy and reducing greenhouse gas
emissions by a certified 84%.
DUBAL Holding's investment aligns perfectly with their focus on environmentally
responsible and groundbreaking ventures. "This partnership with BiOD aligns strategically
with our goals of investing in sustainable businesses, " stated Ahmad bin Fahad, CEO of
DUBAL Holding. "We are confident that this collaboration will not only bolster sustainable
development within the UAE, but also establish a global benchmark for environmental
responsibility, " he added.
BiOD's CEO, Shiva Vig, expressed immense gratitude and optimism regarding the future
prospects of the partnership. "We are thrilled to welcome DUBAL Holding as a strategic
partner, " he said. This collaboration is anticipated to propel BiOD's growth and further
solidify their position as a sustainability leader in the region.
Analysts predict that the partnership will have a significant impact on the UAE's green
initiatives. The combined expertise and resources of DUBAL Holding and BiOD Technology
are expected to accelerate the development and implementation of sustainable energy
solutions within the country. Additionally, the collaboration is likely to inspire similar
partnerships across the region, fostering a collective effort towards a greener future.
The financial details of the acquisition have not been disclosed by either company.
However, industry experts believe this strategic investment underscores DUBAL Holding's

https://wire.thearabianpost.com/2024/07/dubal-holding-strengthens-uaes-green.html 1/2