{"id":85295,"date":"2024-07-10T00:00:00","date_gmt":"2024-07-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/10\/dubal-snaps-up-majority-stake-in-biodiesel-manufacturer-biod\/"},"modified":"2024-07-10T00:00:00","modified_gmt":"2024-07-10T00:00:00","slug":"dubal-snaps-up-majority-stake-in-biodiesel-manufacturer-biod","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/10\/dubal-snaps-up-majority-stake-in-biodiesel-manufacturer-biod\/","title":{"rendered":"Dubal snaps up majority stake in biodiesel manufacturer BiOD"},"content":{"rendered":"

Dubal Holding buys into BiOD: <\/strong>Dubai government\u2019s investment arm Dubal<\/a>Holding<\/a> \u2014 a subsidiary of sovereign wealth fund Investment Corporation of Dubai \u2014 acquired a majority stake in Dubai-based biodiesel manufacturer BiOD<\/a> for an undisclosed value, Trade Arabia<\/a> reports. The acquisition will see the two firms collaborate to strengthen Dubai's green economy and enhance environmental sustainability in the energy sector. <\/p>\n

About BiOD: <\/strong>BiOD produces biofuel from cooking oil and palm oil mill effluent at its second-generation biodiesel refinery, located in the Jebel Ali Freezone.<\/span><\/p>\n

Dubal\u2019s been on an acquisition mission:<\/strong> Dubal and Abu Dhabi-based waste management company Tadweer Group acquired 100%<\/a> 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.<\/p>\n

And has investments in other green ventures:<\/strong> The firm signed an MoU with Imdaad to co-invest in and develop environmentally-friendly projects in the UAE back in October 2022<\/a>. It also has a 50% share in Emirates Global Aluminum<\/a> \u2014 a giant UAE aluminum manufacturer that has been working to decarbonize<\/a> and recycle<\/a> its production line. <\/p>\n

On track for a record:<\/strong> Dubal is an investor in Warsan Waste Management, where it is part of a consortium building the one of the world\u2019s largest single-site waste-to-energy facilities in the UAE, according to its website<\/a>. 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. <\/p>\n

ADVISORS- <\/strong>UAE-based Ideal Capital<\/a> acted as BiOD\u2019s advisor on the transaction. <\/p>\n","protected":false},"excerpt":{"rendered":"

BiOD operates the only biodiesel refinery in the region<\/p>\n","protected":false},"author":1,"featured_media":85296,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[275,11,79,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-biofuels","tag-enterpriseclimate","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"91b72f62-7bd8-4e52-b264-3f365f0dc317","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1432.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dubal snaps up majority stake in biodiesel manufacturer BiOD","related_issue":[85288],"teaser":"BiOD operates the only biodiesel refinery in the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.13e77499-631b-484f-bbca-0f1053f96fe1.mp3"},"yoast_head":"\nDubal snaps up majority stake in biodiesel manufacturer BiOD - 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