Introduction

The potential uses of algal biomass for the benefit of mankind has been intensively reviewed in the last few years, resulting in several recent books and monographs (Borowitzka & Borowitzka, 1988; Richmond, 1986a,b; Lembi & Waaland, 1988). Rather than summarizing the available literature on algal biotechnology, the aim of this chapter is to present a personal view of the potential inherent in algal biomass production to become a viable economic enterprise, to review some of the economic studies which have been published and to point out the unique advantages that could make algal biotechnology a real economic success.

What is it all about?

Microalgae are aquatic microorganisms capable of carrying out the process of photosynthesis in the same way as higher plants. The main advantages of culturing microalgae as a source of biomass are as follows.

1. (1) Algae are considered to be the most efficient biological system for harvesting solar energy and for the production of organic compounds via the photosynthetic process.

2. (2) The entire biomass is available for harvest and use, as most algae are non-vascular plants and lack complex reproductive organs.

3. (3) Many species of algae can be induced to produce particularly high concentrations of chosen compounds – proteins, carbohydrates, lipids and pigments – that are of commercial value.

4. (4) Genetic selection and strain screening are relatively easy and quick as algae are microorganisms without a sexual stage, undergoing simple cell division and completing their life cycle within a few hours. This also allows a much more rapid development and demonstration of viable production processes than other agricultural processes.

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