Annual Reports on Fermentation Processes, Volume 3 describes fermentation research and developments. This book discusses the stimulation of innovation in the fermentation industries, genetics of industrial microorganisms, and fundamental studies on interphase mass transfer. The proposed model for the regulation of cellulase biosynthesis, single-cell protein from C1 compounds, semisynthetic ß-lactam antibiotics, and peptides and macromolecular compounds are also elaborated. This text likewise covers the control mechanism of purine nucleotide biosynthesis, microbial transformations of steroids, and mushroom cultivation as the oldest single cell protein. This volume is beneficial to students and researchers concerned with significant developments concerning fermentation processes.