Algae grown on wastewater media are a potential source of low-cost lipids for production of liquid biofuels. This study investigated lipid productivity and nutrient removal by green algae grown during treatment of dairy farm and municipal wastewaters supplemented with CO 2 .Dairy wastewater was treated outdoors in bench-scale batch cultures. The lipid content of the volatile solids peaked at Day 6, during exponential growth, and declined thereafter. Peak lipid content ranged from 14-29%, depending on wastewater concentration. Maximum lipid productivity also peaked at Day 6 of batch growth, with a volumetric productivity of 17 mg/day/L of reactor and an areal productivity of 2.8 g/m 2 /day, which would be equivalent to 11,000 L/ha/yr (1,200 gallons/acre/year) if sustained year-round. After 12 days, ammonium and orthophosphate removals were 96% and >99%, respectively. Municipal wastewater was treated in semi-continuous indoor cultures with 2-4 day hydraulic residence times (HRTs).Maximum lipid productivity for the municipal wastewater was 24 mg/day/L, observed in the 3-day HRT cultures. Over 99% removal of ammonium and orthophosphate was achieved.The results from both types of wastewater suggest that CO 2 -supplemented algae cultures can simultaneously remove dissolved nitrogen and phosphorus to low levels while generating a feedstock potentially useful for liquid biofuels production.1