TECHNOLOGY FOCUS - BIOLOGY - Preferred Components: The microorganism in the first bioreactor is selected from Acetobacterium, Moorella, Clostridium, Pyrococcus, Eubacterium, Desulfobacterium, Carboxydothermus, Acetogenium, Acetoanaerobium, Butyribacterium, Peptostreptococcus, Ruminococcus, Oxobacter and Methanosarcina. The microalgae in the second bioreactor is selected from Chlorella, Chlamamydomonas, Dunaliella, Euglena, Parvum, Tetraselmis, Porphyridium, Spirulina, Synechoccus, Anabaena, Schizochytrium, Botyrococcus, Fucus, Parachlorella, Pseudochlorella, Brateococcus, Prototheca and Scenedesmus.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Reactants: The gaseous substrate comprises CO, CO2 and/or H2. The acid is selected from acetate, butyrate, succinate, lactate and propionate (preferably acetate). The alcohol is selected from ethanol, butanol, methanol and/or propanol. The pH in the first bioreactor is maintained at 4.5 to 6. Preferred Method: The production rate of acetate in the first bioreactor is at least 10 g/l/day. The lipid production is increased in the second bioreactor by limiting at least one nutrient in the liquid nutrient medium, where the limited nutrient is nitrogen. The method (m2) further involves first treating the both from step (c) to remove substantially all biomass prior to recycling the broth to the first bioreactor; or first passing the broth from step (c) through an oxygen scrubbing module prior to recycling the broth to the first bioreactor. EXAMPLE - A glycerol stock of a Clostridium autoethanogenum was revived in serum bottles. The glycerol stock stored at 80 degrees C was slowly thawed and transferred into the serum bottle. This process was carried out inside an anaerobic chamber. The inoculated serum bottle was subsequently removed from the anaerobic chamber and pressurized to a total of 45 psi using a CO-containing gas mixture (40% CO, 3% H2, 21% CO2, 36% N2). The bottle was then placed horizontally on a shaker inside an incubator at 37 degrees C. After two days of incubation and after verifying that the culture grew, the bottle was used to inoculate another set of eight gas containing serum bottles with 5 mu l of this culture. These serum bottles were incubated for another day and then used to inoculate 5 l of liquid medium. The initial CO containing gas flow was set at 100 mu l/minute and the stirring rate was set to a low 200 rpm. When the microbes started consuming gas the agitation and gas flows were increased to 400 rpm and 550 ml/minute. After two days of growth in batch mode, the fermenter was turned continuous with a dilution rate of 0.25 l/day. The dilution rate was increased by 0.25 1/day to 1 l/day every 24 hours. Acetate concentration in the reactor carried was 10-20 g/l. The dilution rate was 1. Productivity rates for acetate were 10 to 20 g/L/day. The ratio of acetate to ethanol varied from 5:1 to 18:1.