Algal biomass has received attention as an alternative carbon resource owing not only to its high oil production efficiency but also, unlike corn starch, to its lack of demand in foods. However, algal residue is commonly discarded after the abstraction of oil. The utilization of the residue to produce chemicals will therefore increase the value of using algal biomass instead of fossil fuels. Here, we report the use of algal residue as a new carbon resource to produce important chemicals. The application of different homogeneous catalysts leads to the selective production of methyl levulinate or methyl lactate. These results demonstrate the successful development of new carbon resources as a solution for the depletion of fossil fuels.