This short video shows a demonstration project where algae is grown in vertical plastic bags (to capture more sunlight than possible on a pond surface). The algae contain lipids which can be used for food oil or fuel oil depending upon the algae variety. The speaker says that 20,000 gallons of oil per acre per year can be obtained in this way. http://www.valcent.net/i/misc/Vertigro/index.html
Their website says: Valcent Products Inc. creates, designs, and develops and patents highly innovative consumer and industrial products and processes for global markets. A pioneer and leader in ecotechnology and responsible and effective consumer goods, Valcent's team of scientists and designers set the highest of standards in marketing proprietary products developed to enhance the lives and lifestyles of its clients.
High Density Vertical Growth Video