<P><B>Abstract</B></P><P>Current efforts to technically use microalgae focus on the generation of fuels with a molecular structure identical to crude oil based products. Here we suggest a different approach for the utilization of algae by translating the unique molecular structures of algae oil fatty acids into higher value chemical intermediates and materials. A crude extract from a microalga, the diatom Phaeodactylum tricornutum, was obtained as a multicomponent mixture containing amongst others unsaturated fatty acid (16:1, 18:1, and 20:5) phosphocholine triglycerides. Exposure of this crude algae oil to CO and methanol with the known catalyst precursor [{1,2‐(<I>t</I>Bu<SUB>2</SUB>PCH<SUB>2</SUB>)<SUB>2</SUB>C<SUB>6</SUB>H<SUB>4</SUB>}Pd(OTf)](OTf) resulted in isomerization/methoxycarbonylation of the unsaturated fatty acids into a mixture of linear 1,17‐ and 1,19‐diesters in high purity (>99 %). Polycondensation with a mixture of the corresponding diols yielded a novel mixed polyester‐17/19.17/19 with an advantageously high melting and crystallization temperature.</P>