A photobioreactor includes a first and a second container extending along a longitudinal direction; the second container extending inside the first container, so as to delimit a first channel between the first and the second containers; and forming a second channel inside the second container; a first passage means capable of allowing the circulation of a fluid between the first channel and the second channel; a second passage means capable of allowing the circulation of the fluid between the first channel and the second channel, disposed above the first passage means; at least one light source; a gas injection means, configured so as to inject gas in the form of bubbles into the second channel; the circulating fluid being able to be exposed to a light source.