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This Brief provides a concise review of the potential use of microalgae for biofuel production. The following topics are highlighted: the advantages of microalgae over conventional biofuel-producing crops; technological processes for energy production using microalgae; microalgal biomass production systems, production rates and costs; algae cultivation strategies and main culture parameters; biomass harvesting technologies and cell disruption; CO2 sequestration; life cycle analysis; and algal biorefinery strategies. The conclusions section discusses the contribution of the technologies described to environmental sustainability and future prospects.