TECHNOLOGY FOCUS - BIOTECHNOLOGY - Preferred Microorganism: The genetically modified microorganism (M') comprises the FAA2 gene deletion, the recombinant endogenous ACC1 gene operably linked to a heterologous promoter, and the transgene encoding a pyruvate formate lyase comprising PflA and PflB. The genetically modified microorganism (M') further comprises a transgene encoding an acyl CoA-acyl-carrier protein (ACP) thioesterase, where the thioesterase is selected from Soybean (Glycine max); Chlamydomonas reinhardtii (Protein ID: A8HY17 (SEQ ID NO:53), as available on WIPO website); Arabidopsis thaliana (Protein ID: Q9SJE2, (SEQ ID NO:54), as available on WIPO website); Ricinus communis (Protein ID: B9RAC3, (SEQ ID NO:56), as available on WIPO website); Triticum aestivum (Gene ID: 543005); CtFatA from Brassica napus (Protein ID: Q43745, (SEQ ID NO:58), as available on WIPO website); CtFatA from Carthamus tinctorius (Protein ID: Q42715, (SEQ ID NO:60), as available on WIPO website); GmFatA1 from Garcinia mangostana (Protein ID: O04792, (SEQ ID NO:62), as available on WIPO website); CwFatB1 from Cladopus hookeriana (Protein ID: Q39513, (SEQ ID NO:64), as available on WIPO website); CwFatB1 from Calycoseris wrightii (Protein ID: Q39662, (SEQ ID NO:66), as available on WIPO website); and GmFatB1 from G. mangostana (Protein ID: O04794, (SEQ ID NO:68), as available on WIPO website). The genetically modified microorganism (M') further comprises enhanced expression of an acyl-coenzymeA:ethanol O-acyltransferase (EEB1) conferred by a recombinant EEB1 gene, where the gene is operably linked to a heterologous promoter; a transgene encoding a heterologous cytosolic acyl CoA thioesterase (CTE-1), where the CTE-1 is selected from Mus muscilis (Protein ID: 055137, (SEQ ID NO:74), as available on WIPO website); Arabidopsis thaliana (Protein ID: Q5FYU1, (SEQ ID NO:76), as available on WIPO website), or Rattus norvegicus (Protein ID: Q6AZ44, (SEQ ID NO:78), as available on WIPO website); at least one transgene encoding a heterologous glycerol kinase and/or xylose isomerase, where the glycerol kinase is glycerol kinase from Saccharomyces cerevisiae (Protein ID: P32190, (SEQ ID NO:92), as available on WIPO website), and the xylose isomerase is selected from xylose isomerase from Clostridium phytofermentas (Protein ID: A9KN98, (SEQ ID NO:88), as available on WIPO website), and Yersinia pestis (Protein ID: Q8Z9Z1, (SEQ ID NO:90), as available on WIPO website); deletion of an endogenous formate dehydrogenase (FDH) gene, where the FDH gene is selected from Gene ID: 854570, (SEQ ID NO:44), as available on WIPO website; Gene ID: 8300341, (SEQ ID NO:46), as available on WIPO website; and Gene ID: 2907923, (SEQ ID NO: 48), as available on WIPO website; a transgene encoding a heterologous formate hydrogen lysase, where the lyase is E. coli formate hydrogen lyase (Protein ID: C8UET5, (SEQ ID NO:51), as available on WIPO website); and/or deletion of an endogenous alcohol dehydrogenase (ADH) gene, where the ADH gene is selected from Gene ID: 854068, (SEQ ID NO:79), as available on WIPO website; Gene ID: 2538902, (SEQ ID NO:81), as available on WIPO website; Gene ID: 2868277, (SEQ ID NO:83), as available on WIPO website; and Gene ID: 852442, (SEQ ID NO:85), as available on WIPO website. In the method (M1a) for the extracellular production of free fatty acids and its esters, the microorganism is a genetically engineered microorganism (M'), Candida tropicalis, or Pachysolen tannophilus. Recombinant Methods (Disclosed): The genetically modified microorganism (M') is produced by standard recombinant methods.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Medium: The growth medium used in the method (M1a) for the extracellular production of free fatty acids and its esters comprises or consists of the components of the medium (M'1). EXAMPLE - Profile of fatty acids produced by modified yeast strain comprising Saccharomyces cerevisiae strain that was double mutant strain having genotype Delta FAA2/Pfl, using 5% pure glycerol as carbon source; was evaluated. The yeast strain was grown on growth medium comprising (per liter of medium): 5% glycerol as carbon source; nitrogen source including ammonium sulfate (5 g); vitamins including biotin (20 mu g), folic acid (2 mu g), inositiol (10 mg), niacin (400 mu g), riboflavin (200 mu g), pyridoxine hydrochloride (400 mu g), and thiamine hydrochloride (400 mu g); compounds supplying trace elements including boric acid (500 mu g), copper sulfate (40 mu g), potassium iodide (100 mu g), ferric chloride (200 mu g), manganese sulfate (400 mu g), sodium molybdate (200 mu g), and zinc sulfate (400 mu g); and salts including potassium phosphate monobasic (900 mg), potassium phosphate dibasic (200 mg), magnesium sulfate (500 mg), sodium chloride (100 mg), and calcium chloride (100 mg); which was modified Wickerham synthetic medium, where selected sole carbon source was 5% pure glycerol. The growth of the yeast strain was performed under fermentation growth conditions, followed by subsequent extraction and analysis of extracellular lipids produced (fatty acid production). The extracted fatty acids were concentrated to volume of 2 ml and were sent for gas chromatography-mass spectroscopy (GC-MS) analysis. The comparative strain was single mutation strain Delta FAA2 and wild type strain. The results for fatty acid production were as follows: Delta FAA2/Pfl: total fatty acids produced = 99.6% (including C:14 of 2%, C:14,1 of 20%, C:16 of 43%, C:18 of 32%, and C:20 of 2.6%); Delta FAA2: total fatty acids produced = 52.5% (including C:14 of 4%, C:16 of 18%, and C:18 of 30.5%); and wild type S. cerevisiae: total fatty acids produced = 74% (including C:18-1 of 74%). Thus, it was observed that when the strain was grown on 5% pure glycerol, where the single mutation strain produced lower levels of fatty acids than WT strain, the double mutants comprising the Pfl system showed enhanced yields of fatty acids. The probable reason for this was that extra reduced form of nicotinamide adenine dinucleotide (NADH) which was generated while incorporating glycerol into glycolytic pathway (glycerol to glyceraldehyde-3-phosphate) remained unused, and created NAD+ imbalance hampered growth of single mutant. However, introduction of Pfl system relieved cellular system of this NADH imbalance and thus, better performance by double mutant strain with Pfl system was observed.