The environmental problems associated with the use of fossil fuels demand a transition to renewable sources for fuels and energy. A biorefinery approach has often been considered and microalgae as a feedstock has been pampered for its numerous possibilities to produce biofuels. Depending on the species and cultivation conditions, microalgae can produce fats, proteins and sugars. These raw materials can thus be utilized in the production of biofuels, bioenergy and biochemicals. For this reason, algal biofuels are considered as sustainable and renewable options for climate related challenges. However, there are many issues such as supply infrastructure, business and refinery opportunities, as well as their efficacy, tied to sustainable production of these energetic materials from algae. Thus, technical maturity, scalability, energy and material balance demands coupled with cost, nutrient resources demand, certification and legislation are needed to demonstrate the biorefinery opportunities of algal biomass valorisation. This paper therefore recommends that various consortiums tasked with algal biofuel projects should be chosen for a more holistic integrated multidisciplinary approach to address the advancement of algal biofuel technology.