Abstract
As a push towards alternative and renewable resources for heat and power generation, biomass and thermally treated fuels from biomass may be viable options in the upcoming economic reality. This study the verified mass and energy balance of spruce woody biomass after low temperature pyrolysis between 250 and 550 °C. The results showed that low-temperature pyrolysis can yield high-grade biochar suitable for substitution of fossil fuels. Crucially, the net calorific value of biochar processed at 350 °C substantially exceeded that of brown coal. An economic analysis was carried out on the assumption of the current economic reality in the Czech Republic. It was shown that even if the price of the biochar slightly increased, it would still be beneficial to invest in torrefaction technology over paying carbon credits.