DUBAL Holding Strengthens UAE's Green Push with BioD Technology Investment

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.

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 unwavering commitment to environmental, social, and governance (ESG) principles. Moving forward, all eyes will be on the collaborative efforts of DUBAL Holding and BiOD Technology, as they work together to propel the UAE towards a sustainable future.