Dubal Holding buys into BiOD: Dubai government’s investment arm DubalHolding — a subsidiary of sovereign wealth fund Investment Corporation of Dubai — acquired a majority stake in Dubai-based biodiesel manufacturer BiOD for an undisclosed value, Trade Arabia reports. The acquisition will see the two firms collaborate to strengthen Dubai's green economy and enhance environmental sustainability in the energy sector.

About BiOD: BiOD produces biofuel from cooking oil and palm oil mill effluent at its second-generation biodiesel refinery, located in the Jebel Ali Freezone.

Dubal’s been on an acquisition mission: Dubal and Abu Dhabi-based waste management company Tadweer Group acquired 100% of Dubai e-waste specialist Enviroserve in May. Enviroserve is the only integrated e-waste processor in the Middle East, Africa, and the Caucasus region and recycles electrical and electronic equipment waste.

And has investments in other green ventures: The firm signed an MoU with Imdaad to co-invest in and develop environmentally-friendly projects in the UAE back in October 2022. It also has a 50% share in Emirates Global Aluminum — a giant UAE aluminum manufacturer that has been working to decarbonize and recycle its production line.

On track for a record: Dubal is an investor in Warsan Waste Management, where it is part of a consortium building the one of the world’s largest single-site waste-to-energy facilities in the UAE, according to its website. The project aims to handle 5k tons of municipal solid waste per day (1.82 mn tons a year) and is scheduled for operation this year.

ADVISORS- UAE-based Ideal Capital acted as BiOD’s advisor on the transaction.

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