Algae can have anywhere between 20-80% of oil by
weight of dry mass (Bajhaiya et al., 2010). Algae have
much faster growth-rates than terrestrial crops. The per
unit area yield of oil from algae is estimated to be from
20,000 to 80,000 L per acre, per year; this is 7–31 times
greater than the next best crop, palm oil (Demirbas &
Demirbas, 2011). The calculations made by Chisti (2008)
clearly demonstrated the strong scenario for algal
biofuels. The use of algae as energy crops has potential,
due to their easy adaptability to growth conditions, the
possibility of growing either in fresh or marine waters and
avoiding the use of land. Furthermore, two thirds of
earth’s surface is covered with water, thus algae would
truly be renewable option of great potential for global
energy needs (Patil et al., 2008). Demirbas & Demirbas
(2011) investigated the importance of algae oil as a source
of biodiesel. They found that different species of algae are
better suited for different types of biofuels. Schenk et al.,
(2008) studied that algal biofuels appear to be the only
current renewable source that could meet the global
demand for transport fuels. Hossain et al., (2008)
investigated that algae have emerged as one of the most
promising sources for biodiesel production and studied
proper transesterification, amount of biodiesel produced
(ester) and physical properties of biodiesel.