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Dubai Investors to Set Up EmBio, the GCC's First Biodiesel Plant
UAE - Alf Yad Limited LLC, a Dubai based venture capital fund, announced a venture capital investment in EmBio - positioned to become producer of the first constant supply of high grade biodiesel in the United Arab Emirates and the Gulf Cooperation Council.EmBio was conceptualized and originated by the founders of UAE-based Ecobility Energy Solutions (Ecobility), a company dedicated to catalyzing change in the field of private sector sustainable development across three verticals; renewable energy, resource conservation and sustainable buildings.
Daman Investments is manager of the fund.
CEO of Daman Investments, Shehab Gargash said : "Alf Yad sees tremendous potential in the renewable energy sector and EmBio is a partner that we are sure will successfully deliver the first of its kind production facility in the GCC.
"In addition to commercial considerations, EmBio represents the best and highest purpose for which Alf Yad was formed - to assist the development of serious, commercial ventures based here in the region - ventures that will be capable of competing on a global scale.
"Founded by two young Arab entrepreneurs who left their highly successful and well established professional careers to develop proprietary sustainability projects in the region, we believe EmBio represents a real achievement in local sustainable development."
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