Modified Lipids Produced from Oil-Bearing Microbial Biomass and Oils

A method of making a chemically modified lipid, comprising:

• (a) providing a microalgal lipid comprising no more than 500 ppm color-generating impurities, wherein the lipid is obtained from microalgae cultured under heterotrophic growth conditions in a bioreactor substantially in the absence of light;
• and
• (b) subjecting the microalgal lipid to an epoxidation reaction to produce the modified lipid,
• wherein the microalgae are selected from strains Parachlorella, Prototheca, Chlorella and strains having at least 85% nucleotide sequence identity in 23S rRNA sequences to a Parachlorella, Prototheca, or Chlorella strain.