Green algae are rich in chlorophyll and some of them exhibit yellow color when they are in solution. It should also take into account the presence of carotenoids and flavonoids that also exist in green algae.
I think that Chlorella vulgaris contains carotenoids, and more particularly, xanthophylls such as Lutein (and that explains receiving yellow extract...)
Chlorela vulgaris contains also beta-carotaine and lutein.Chlorophyll is readily soluble in alcohol, mostly insoluble in non polar alkanes like butane and hexane, The used solvents: isopropanol-petroleum ether in the ratio 2:1(v) may extracted the above mentioned carotenoids not chlorophylls.
Conference Paper Мicroalgae – source of biologically active substances for hu...
Chlorella vulgaris contain xanthophylls carotenoids and some amount of chlorophyll. the dominating pigment is carotenoid followed by xanthophyll which gives a yellow colour.
Apparently the yellow color is due to the xanthophyll but probably a flavonoid, why don't you take a small volume an take an UV- V spectra?, if the absorption is more than 400 nm may be is a xanthophyll and it's less may be is a flavonoid. By other side, using a chromogenic reaction you can have an idea, Shinoda reaction positive is for flavonoids.