TECHNOLOGY FOCUS - BIOLOGY - Preferred Components: The bio-cellular mixture comprises algae, protists, fungi, yeast, E. coli, mixed cultures of cells. The lysed algal preparation comprises a concentrate, slurry, suspension, dispersion, emulsion, and/or solution. The lysed algal preparation comprises diatoms (bacillariophytes), green algae (chlorophytes), blue-green algae (cyanophytes), golden-brown algae (chrysophytes), haptophytes, Amphipleura, Amphora, Chaetoceros, Cyclotella, Cymbella, Fragilaria, Hantzschia, Navicula, Nitzschia, Phaeodactylum, Thalassiosira, Ankistrodesmus, Botryococcus, Chlorella, Chlorococcum, Dunaliella, Monoraphidium, Oocystis, Scenedesmus, Nanochlorposis, Tetraselmis, Chlorella, Dunaliella, Oscillatoria, Synechococcus, Boekelovia, Isochysis, and Pleurochysis.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Method: The method (M1) further involves collecting the extracted insoluble oils in a collection vessel; recycling the separated solvent by pumping through the membranes or membrane modules to process a subsequent batch of the liquid slurry; converting the extracted insoluble oils comprising algal lipid component and/or algal oils in the collection vessel to Fatty Acid Methyl Esters (FAMEs) or a biodiesel by transesterification or a refinery-based process such as hydrocracking or pyrolysis; processing the first stream comprising the algal biomass by drying the biomass to be optionally used as animal feed or for energy generation; and optionally separating the extracted algal lipid components, and/or algal oils from solvents. The method involves coalescing the insoluble oil on a surface of the hydrophobic membrane or membrane modules, before step of contacting; and optional adding natural fatty acids or its salts to the lysed algal preparation. Preferred Components: The liquid source is selected from industrial water, brine, wastewater, industrial or natural effluents, water-oil mixtures, aqueous slurries, aqueous slurries comprising broken cells, live cells, bio-cellular mixtures, and/or lysed cellular preparations. The insoluble oil comprises algal lipid component and/or algal oil. The counterflowing solvent comprises non-polar solvents, alkanes such as hexane, aromatic solvents such as benzene, toluene, ether such as diethyl ether, halogenated solvents such as chloroform, dichloromethane, and esters such as ethyl acetate. The counterflowing non-polar oil comprises algal oils, components of biodiesels selected from monoglycerides, diglycerides, triglycerides, and fatty acid methyl esters. The natural fatty acids are (X):(Y'), where X is the number of carbon atoms in the fatty acids i.e. 8-22 and Y' is double bonds in the fatty acids i.e. 0-6. The natural fatty acids comprise myristoleic acid, palmitoleic acid, sapienic acid, oleic acid, linoleic acid, alpha -linolenic acid, arachidonic acid, eicosapentaenoic acid, erucic acid, docosahexaenoic acid, laurie acid, myristic acid, palmitic acid, stearic acid, and/or arachidic acid.    TECHNOLOGY FOCUS - POLYMERS - Preferred Components: The hydrophobic membrane or membrane module comprises hollow fiber microporous membranes. The hydrophobic hollow fiber membrane comprises polyethylene, polypropylene, polyolefins, polyvinyl chloride (PVC), amorphous Polyethylene terephthalate (PET), polyolefin copolymers, poly(etheretherketone) type polymers, and/or surface modified polymers. The surface modified polymers comprise polymers modified chemically at halogen groups by corona discharge or by ion embedding techniques. EXAMPLE - No suitable example given.