The document discusses the potential of algae as a source of biofuels and value-added products. It notes that algae have several advantages over traditional biofuel feedstocks like requiring less land and having much higher oil yields. Algae-based biofuels are considered a third generation biofuel that does not rely on food sources. The document outlines how algae can be used to produce biodiesel and describes some additional high value products that can be extracted from algae like nutraceuticals, pigments, and antioxidants. It proposes a new approach for extracting multiple products from algae to increase economic viability.