Considering the deleterious impacts of fossil fuels on the environmental and natural ecosystems, it has become imperative to make a paradigm shift toward renewable fuels, chemicals, and materials. The exhaustive everyday usage of fossil fuels and processed petrochemical products are the leading causes for the increase in greenhouse gas emissions, global warming, climate changes, acid rain, ozone layer depletion, pollution of air, water, and soil as well as for the accumulation of nonbiodegradable materials in the soil and oceans. On the contrary, biofuels, biochemicals, and biomaterials derived from renewable wastes such as nonedible plant biomass (e.g., agricultural and forestry biomass), energy crops, microalgae, municipal solid waste, sewage sludge, and other biogenic residues seem to be carbon neutral.