**2. Conclusion**

Alternate energy sources are to be explored because nonrenewable energy sources are getting depleted, and environmental pollution is increasing globally. The economic viability of microalgal biofuel production should be significantly enhanced by a high-value coproduct strategy, which would, conceptually, involve sequentially the cultivation of microalgae in a microalgal farming facility (CO<sup>2</sup> mitigation), extracting bioreactive products from harvested algal biomass, thermal processing and utilizing residual biomass for extraction of high-value products. The synergy approach toward biofuel production can make the technology more viable and economically more feasible [35].

Enhanced production of these biofuels will help conserve our natural resources and save our environment. Algae technology has enormous potential not only for algae-based biofuels but also for food, feed, renewable chemicals and many other products that are critical for a more sustainable society. Major technological challenges like effective design of photobioreactors, innovative upstream processing and downstream processing ought to be addressed before commercialization of microalgae as a source of biofuels for a better future.
