By the year 2035, global energy demand is predicted to grow by 35% from 2010
(International Energy Agency 2012). Biobased fuels are considered as sustainable
alternatives to fossil fuels but in order to be able to compete against more traditional
fuels, these alternative fuels must be technically acceptable, economically
competitive, environmentally acceptable and easily available.
The importance of algae has increased with the search for renewable energy
sources. Algae can thrive and produce valuable products such as lipids (oils),
carbohydrates, proteins, and various feedstocks that can be converted into other
biofuels and useful materials. The oil produced is suitable for biodiesel with very
small modifications. The fatty acid composition is also suitable for production of
functional foods and feed, and as raw material for bioplastics and the biochemical
industry.
Algae-based biofuel production has a number of potential advantages: