Several tests and experimental work have been done for identifying the best growth conditions and accumulated amount of lipid moiety in B. braunii, a microalga(UTEX 572) in terms of media composition. The specific growth rate was found to be the highest at 0.15 g/L-day when the phosphorus concentration was doubled with the other ingredients at the normal level. Experiments for varied media compositions revealed that the accumulation of lipid was the highest at 48% (dry cell weight based) in the nitrogen deficient medium and its corresponding specific growth rate was comparative to that in the normal BG 11 medium. In the bubble column experiments, carbon dioxide containing air produced four times more cell mass than air only. Light and glucose addition also enhanced cell mass with maximum, 1.8 g/L and accordingly 42% of lipid composition, which turned out to be a better strategy for higher lipid-producing microalgal culture.