In times of dwindling petroleum reserves, microalgae may pose an alternate energy resource. Their growth is vast under favorable conditions. However, producing microalgae for energy in an economically as well as ecologically feasible way is a difficult task and the prospects are challenging. The chapter gives an insight into perspectives of growing microalgae as a crop, highlighting some of their exceptional energy storage properties in regard to commercial exploitation. Large scale algae production techniques and concepts up to downstream processes are presented. Today, conversion to fuels is constrained by energy usage and costs – but future combination of fuel production with added value products may improve balances and lower the industrial CO2 footprint. These challenges drive research and industry worldwide to constant improvement, supported by numerous funding opportunities. Microalgae in their tremendous diversity are a young and still very much unexplored crop. It is a challenge worth addressing.