In recent years, ever-increasing socio-economic awareness, and negative impact of excessive petro consumption have redirected the research interests towards bio-resources such as algal-based biomass. In order to meet current bio-economy challenges to produce high-value multiple products at a time, new integrated processes in research and development are necessary. Though various strategies have been posited for conversion of algal-based biomass to fuel and fine chemicals, none of them has been proved as economically viable and energetically feasible. Therefore, a range of other bio-products needs to be pursued. In this context, the algal bio-refinery concept has appeared with notable solution to recover multiple products from a single operation process. Herein, an algal-based bio-refinery platform for fuel, food, and pharmaceuticals considering Bio-refinery Complexity Index (BCI) has been evaluated, as an indicator of techno-economic risks. This review presents recent developments on algal-biomass utilization for various value-added products as part of an integrated bio-refinery.
Keywords: Bio-economy; Bio-products; Bio-refinery complexity index; Sustainability; Technology readiness level.
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