Sovereign wealth fund DUBAL Holding has announced that it has acquired an equity stake in BiOD Technology FZCO, the UAE’s and the GCC’s largest biodiesel manufacturer.
The industrial investment arm of Investment Corporation of Dubai (ICD) DUBAL Holding focuses on investments in the Non-Ferrous Metals, Energy, Industrial & Recycling and Sustainability sectors.
Its portfolio of assets includes Emirates Global Aluminium (EGA), OSE Industries LLC, Warsan Waste Management Centre, Sohar Titanium in Oman, Sinoway Carbon in China and Thermalex Inc in the US.
Commenting on the partnership, Ahmad bin Fahad, CEO of DUBAL Holding, said: “We are confident that this collaboration will not only contribute to sustainable development in the UAE but also set a precedent for environmental responsibility worldwide.”