DUBAL Holding acquires equity stake in BiOD Technology
BiOD Technology is known for converting used cooking oils and palm oil mill effluent into clean biodiesel
DUBAL Holding, the sovereign wealth fund focused on sustainable and green investments, has acquired an equity stake in BiOD Technology, the UAE’s and GCC’s largest biodiesel manufacturer.
BiOD is renowned for converting used cooking oils (UCO) and palm oil mill effluent (POME) into clean biodiesel.
Operating the GCC region’s only second-generation biodiesel plant, BiOD has been actively contributing to the circular economy and reducing greenhouse gas emissions by 84 per cent, as verified by its ISCC certification.
Dubal Holding and BiOD to support the circular economy
The strategic partnership aims to enhance the UAE’s position in the global green economy, reflecting both companies’ commitment to environmental sustainability and innovation in the energy sector.
“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, added: “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.”
