DUBAL Holding Acquires Stake in BiOD to Drive Green Economy in the UAE
DUBAL Holding, a prominent sovereign wealth fund in the UAE, has made a groundbreaking move towards sustainable development by acquiring a stake in BiOD Technology FZCO, the largest biodiesel manufacturer in the UAE and GCC region. This strategic partnership aims to boost the UAE’s position in the global green economy and demonstrate a strong commitment to environmental sustainability and innovation in the energy sector.
BiOD is known for its innovative approach to converting used cooking oils and palm oil mill effluent into clean biodiesel, making significant strides in renewable energy technology. With the only second-generation biodiesel plant in the GCC region, BiOD has been able to reduce greenhouse gas emissions by 84%, as verified by its ISCC certification.
DUBAL Holding’s investment in BiOD underscores its dedication to sustainable and green investments, aligning perfectly with Dubai’s vision for a green economy. The CEO of DUBAL Holding, Ahmad bin Fahad, expressed confidence in the partnership, stating that it will not only contribute to sustainable development in the UAE but also set a global precedent for environmental responsibility.
In response, BiOD’s CEO, Shiva Vig, expressed gratitude for the partnership and highlighted the shared vision for a sustainable future. With DUBAL Holding’s support, BiOD aims to make even greater strides in renewable energy and contribute further to the UAE’s green economy.
This collaboration between DUBAL Holding and BiOD marks a significant milestone in the pursuit of sustainability and innovation in the energy sector. It showcases the UAE’s leadership in green technology and sets an example of how strategic partnerships can drive progress towards a cleaner, more sustainable future.
