Recent progress towards the implementation of renewable bioenergy production has included microalgae, which have potential to significantly contribute to a viable future bioeconomy. In a current challenging energy landscape, where an increased demand for renewable fuels is projected and accompanied by plummeting fossil fuels’ prices, economical production of algae-based fuels becomes more challenging. However, in the context of mitigating carbon emissions with the potential of algae to assimilate large quantities of CO2, there is a route to drive carbon sequestration and utilization to support a sustainable and secure global energy future. This chapter places international energy policy in the context of the current and projected energy landscape. The contribution that algae can make, is summarized as both a conceptual contribution as well as an overview of the commercial infrastructure installed globally. Some of the major recent developments and crucial technology innovations are the results of global government support for the development of algaebased bioenergy, biofuels and bioproduct applications, which have been awarded as public private partnerships and are summarized in this chapter.