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Microalgae,including cyanobacteria,are a diverse group of oxygenic photosynthetic microorganisms,and many of which can grow rapidly and possess large varieties of biosynthetic pathways to produce a wide array of metabolites like carbohydrates,proteins,lipids,pigments,and biologically active compounds.Many microalgae can synthesize large amounts of neutral lipids(e.g.,triacylglycerol),making them a promising source of biomass feedstock for transportation fuels.Microalgae-based biofuel production may exert minimal competition for land and water with food crops,and microalgaes ability to efficiently utilize carbon dioxide from industrial sources for photosynthetic biomass production provides an added environmental benefit.In this presentation,an overview of microalgae-based biofuel research and development will be provided,the progress towards understanding the pathways for lipid biosynthesis and the molecular and cellular mechanisms for neutral lipid accumulation in microalgae will be presented,metabolic engineering of microalgae for trait development,particularly enhanced lipid production,will be highlighted,and critical assessment of large-scale photobioreactor development and microalgal mass culture will be made.The path forward for microalgae-based biofuels with respect to both challenges and opportunities across the entire microalgal production value-chain will be provided.