UAE – Mubasher: DUBAL Holding has acquired an equity stake in BiOD Technology FZCO, marking a strategic push into green investments.

The deal underscores DUBAL Holding's commitment to sustainable wealth funds and Dubai's vision of a greener economy, according to a press release.

The partnership propels the UAE's leadership in green tech while exemplifying how collaborations advance sustainability and energy innovation goals.

As the GCC's largest biodiesel producer using waste oils and byproducts, BiOD operates the region's sole second-generation renewable diesel plant.

Ahmad bin Fahad, CEO of DUBAL Holding, said: "This partnership with BiOD aligns perfectly with DUBAL Holding’s strategic objectives of investing in environmentally responsible and innovative businesses.”

Shiva Vig, CEO of BiOD, stated: "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.”

In 2023, DUBAL Holding, the investment arm of the Dubai Government, logged a net profit of AED 1.79 billion.