This text covers important research work on the applications of penicillium from specialists from an international perspective. The book compiles advancements and ongoing processes in the penicillium system, along with updated information on the possibilities for future developments. The book caters to the needs of researchers/academicians dealing with penicillium spp. related research and applications, outlining emerging issues on recent advancements made in the area of research and its applications in bioprocess technology, chemical engineering, molecular taxonomy, biofuels/bioenergy research and alternative fuel development. In addition, the book also describes the identification of useful compound combinations/enzyme cocktails and the fermentation conditions required to obtain them at an industrial scale. Finally, the book provides updated information on the best utilization of these fungi as a natural tool to meet the next challenges of biotechnology.