“…Biocrude is an oily phase containing diverse hydrocarbons that can be converted into various fuels using existing facilities in petrorefinery [9,11], and it can be produced with higher liquid yield than the original lipid content of microalgae [9]. Lab-scale [12][13][14][15][16][17][18] and pilot-scale [19][20][21] HTL studies using various microalgal strains have produced biocrude yields around 30-50% (dry cell weight basis) regardless of the biochemical composition of microalgae (biomass-agnostic). Since HTL directly treats wet biomass without drying, the entire production chain of microalgal biofuels can be improved in terms of energy balance, economic viability, and environmental impact [22,23].…”