DUBAL Holding Acquires Equity Stake in BiOD Technology FZCO to Boost UAE’s Green Economy
In a significant move for sustainable development, DUBAL Holding has acquired an equity stake in BiOD Technology FZCO. This strategic partnership is poised to enhance the UAE’s global standing in the green economy, underscoring both companies' commitment to environmental sustainability and innovation in the energy sector.
BiOD Technology, the largest biodiesel manufacturer in the UAE and GCC, is renowned for its groundbreaking work in converting used cooking oils (UCO) and palm oil mill effluent (POME) into clean biodiesel. Operating the region’s only second-generation biodiesel plant, BiOD leads in renewable energy technology, contributing to the circular economy and significantly reducing greenhouse gas emissions by 84%, as verified by its ISCC certification.
DUBAL Holding, a sovereign wealth fund focused on sustainable and green investments, recognizes the strategic importance of BiOD’s mission. This investment aligns with Dubai’s vision for a green economy and demonstrates DUBAL Holding’s dedication to fostering a sustainable future. "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.
BiOD’s CEO, Shiva Vig, expressed optimism about the future of this collaboration. "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 highlights the UAE’s leadership in green technology and exemplifies how strategic partnerships can drive substantial progress toward a cleaner, more sustainable future.
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