Marine algae are a rich source of natural bioactive compounds with pharmaceutical, nutraceutical and cosmetic applications. Multi-omics approaches can be used to identify compounds of interest from algae. Notable compounds isolated from algae include carotenoids, fatty acids, antibiotics, and biosurfactants. Algae also have applications as human and animal food, in space research producing oxygen, and in energy production through biofuel and methane. Microalgae can be used to remediate wastewater by removing nutrients and excess carbon dioxide.