– Dubal Holding acquires a majority stake in BiOD, UAE’s largest biodiesel manufacturer, strengthening its commitment to environmental sustainability and innovation in the energy sector.

– The partnership enhances the UAE’s global position in the green economy, with BiOD’s advanced technology reducing greenhouse gas emissions by 84 percent.

– Both companies highlight their dedication to sustainable development, with Dubal Holding emphasizing the alignment with its strategic goals and BiOD anticipating further advancements in renewable energy.

Dubal Holding, the investment arm of the Dubai government in the commodities and mining, power and energy, and industrial sectors, has acquired a majority stake in BiOD, the UAE’s largest biodiesel manufacturer, through a strategic deal.

This partnership aims to enhance the UAE’s position in the global green economy, highlighting both companies’ commitment to environmental sustainability and energy sector innovation.

BiOD, the leading biodiesel producer in the UAE and GCC, is recognized for its innovative conversion of used cooking oils (UCO) and palm oil mill effluent (POME) into clean biodiesel.

Operating the GCC region’s only second-generation biodiesel plant, BiOD exemplifies technological advancement in renewable energy and a commitment to the circular economy, achieving an 84 percent reduction in greenhouse gas emissions as verified by ISCC certification.

Announcing the acquisition, Dubal Holding, a sovereign wealth fund focused on sustainable and green investments, emphasized its dedication to supporting Dubai’s vision for a green economy.

“This partnership with BiOD aligns perfectly with Dubal Holding’s strategic goals of investing in environmentally responsible and innovative businesses,” stated Ahmad bin Fahad, CEO of Dubal Holding.

He highlighted that this deal represents a significant milestone in advancing sustainability and innovation in the energy sector, showcasing the UAE’s leadership in green technology and the power of strategic partnerships to drive progress toward a sustainable future.

“We are confident that this collaboration will contribute to sustainable development in the UAE and set a global example of environmental responsibility,” he added.

BiOD’s Chief Executive, Shiva Vig, expressed excitement over the partnership, stating, “We are thrilled to welcome Dubal Holding as a strategic partner. This investment signifies our shared vision for a sustainable future.”Vig also acknowledged the role of Ideal Capital advisors in facilitating the deal and expressed pride in contributing to the UAE’s green economy, anticipating further advancements in renewable energy with Dubal Holding’s support.