Conventional water treatment technologies remove nutrients via resource intensive processes. However, new approaches for nutrient recycling are needed to provide food to the increasing population. This work explores the use of microbial biomass as a means to recover nutrients from industrial wastewater and upcycle them to feed grade single cell protein. Results demonstrated that both algae and bacteria could remove or assimilate most of the organic carbon present in the wastewater (~95% removal for monocultures and 91% for the algal-bacterial consortium). However, their growth stopped before nutrients and substrates in the gas phase (i.e., methane and oxygen for methanotrophs and carbon dioxide for algae) were depleted. Likely, algal growth was light limited and stopped after organic carbon was consumed. Methanotrophs growth could be limited by trace elements (e.g., copper). Nevertheless, for all cultures the protein content (45% of dry weight, DW, for methanotrophs; 52.5% of DW for algae; and 27.6% of DW for consortium) and amino acid profile was suitable for substitution of conventional protein sources. Further research should focus on increasing productivity of biomass grown on wastewater resources.