In a milestone for sustainable development in the UAE, DUBAL Holding and BiOD Technology FZCO have jointly announced the acquisition of DUBAL Holding’s stake in BiOD. This strategic partnership will strengthen the UAE’s position in the global green economy and reinforce other companies’ commitment to environmental sustainability and innovation in the energy sector.

BiOD, the UAE and GCC’s largest biodiesel producer, is known for its pioneering work in transforming used cooking oils (UCO) and palm oil mill wastewater (POME) into clean biodiesel. As the operator of the only second-generation biodiesel plant in the GCC region, BiOD is at the forefront of technological innovation in renewable energy, demonstrating its commitment to the circular economy and reducing greenhouse gas emissions by 84 percent, 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 and activities. This investment underscores DUBAL Holding’s commitment to advancing a sustainable future and supports Dubai’s vision for a green economy. “This partnership with BiOD aligns perfectly with DUBAL Holding’s strategic objectives to invest in environmentally friendly and innovative companies. We are confident that this collaboration will not only contribute to sustainable development in the UAE, but also set a precedent for environmental responsibility globally,” said Ahmad bin Fahad, CEO of DUBAL Holding.

We are delighted to welcome DUBAL Holding as a strategic partner. This is not only an investment in our business, but also 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 taking even greater steps in renewable energy with the support of DUBAL Holding. I would also like to thank our advisors at Ideal Capital for their crucial role in facilitating this deal.

Shiva Vig, CEO, BiOD

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 provides a powerful example of how strategic partnerships can drive substantial progress towards a cleaner, more sustainable future.