In a remarkable development for sustainable energy in the UAE, DUBAL Holding and BiOD Technology FZCO have announced DUBAL Holding’s acquisition of equity in BiOD. This groundbreaking partnership represents a significant step towards bolstering the UAE’s position in the global green economy, underscoring the dedication of both companies to environmental sustainability and innovation in the energy sector.
As the largest biodiesel manufacturer in the UAE and the GCC, BiOD has garnered praise for its pioneering work in converting used cooking oils and palm oil mill effluent into clean biodiesel. The company stands as a trailblazer in second-generation biodiesel production in the GCC region, showcasing a steadfast commitment to technological innovation in renewable energy. Moreover, BiOD is steadfast in its pursuit of the circular economy, having achieved an impressive 84 per cent reduction in greenhouse gas emissions, a figure substantiated by its ISCC certification.
The strategic investment by DUBAL Holding, a sovereign wealth fund with a focus on sustainable and green investments, underscores the significance of BiOD’s mission and operations. This move aligns with DUBAL Holding’s strategic objectives of investing in environmentally responsible and innovative businesses, epitomizing the company’s dedication to cultivating a sustainable future and supporting Dubai’s vision for a green economy.
Ahmad bin Fahad, CEO of DUBAL Holding, conveyed confidence in the partnership, accentuating its potential impact on sustainable development in the UAE and its global significance in promoting environmental responsibility. Conversely, Shiva Vig, CEO of BiOD, welcomed DUBAL Holding as a strategic partner and underscored the shared vision for a sustainable future. Vig also acknowledged the role of advisors at Ideal Capital in facilitating the deal.
The collaboration between DUBAL Holding and BiOD stands as a pivotal milestone in advancing sustainability and innovation in the energy sector, showcasing the UAE’s leadership in green technology and the potential of strategic partnerships to drive progress towards a cleaner, more sustainable future.
About DUBAL Holding
Established in 2014, DUBAL Holding LLC (DH) is the Industrial Investment arm of Investment Corporation of Dubai (ICD) and has played a key role in promoting sustainable development and economic diversification in the UAE. The company focuses on impactful investments in Non-Ferrous Metals, Energy, Industrial & Recycling / Sustainability sectors. Its current portfolio of assets includes Emirates Global Aluminium (EGA), OSE Industries LLC, Warsan Waste Management Centre, and international ventures in Oman, China, and the USA.
For more information, please visit www.dubalholding.ae.
About BiOD
Located in Jebel Ali, BiOD Technology has swiftly emerged as a trailblazer in the sustainable energy sector. The company is renowned for its innovative biodiesel production system and its commitment to integrating this technology into existing societal infrastructures. BiOD’s dedication to environmental sustainability is underscored by its ISCC certification, ensuring that its processes adhere to the most rigorous international criteria.
For further information, please contact:
Orient Planet Group (OPG)
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Website: www.orientplanet.com