Abstract: A method for producing an algal oil is provided. The method includes continuously providing a growth medium and an algal strain to a bioreactor at a predetermined fluid flow rate; illuminating the growth medium and algal strain contained within the bioreactor by a first artificial light source for a time sufficient to effect lipid production by the algal strain; continuously withdrawing a portion of the growth medium and algal strain contained within the bioreactor at the predetermined fluid flow rate; and treating the withdrawn portion of the growth medium and algal strain to produce and isolate a lipid produced by the algal strain.