Abstract Native species of Asterarcys quadricellulare was isolated from wastewater from the International Centre for Reference and Water Reuse at the Sao Paulo University campus. Microalga was cultivated at 24.2 ± 1.2 oC under mixotrophic conditions in Bold Basal medium supplemented with 0.1 g/L glucose, under 12 h:12 h light:dark photoperiod of artificial light, in 2 L photobioreactors. A. quadricellulare achieved 0.463-0.567 g/L (dw) concentration, with 20.0 % lipid and 36.6 % carbohydrate. Yields of 0.0198 g oil and 0.0362 g sugar /L -1 .day -1 show this microalga potential for biofuels production and wastewater treatment.