System and method for continuous production of a renewable liquid fuel

A method of making a biofuel based on renewable biomass feedstock, comprising:

• receiving solid biomass feedstock;
• combining the solid biomass feedstock with a colloidal dispersion of solid biocarbon in a liquid dispersion medium into a first blend;
• and
• pumping the first blend through a first reactor being defined by a length of first pipe having a first diameter, the first reactor being surrounded by a second pipe having a second diameter larger than the first diameter, the second pipe being supplied with a continuous flow of heat exchange fluid, the length of the first pipe having an input end for receiving the first blend, and an output end for outputting a second blend of torrefied biomass and biocarbon colloidal dispersion generated within the length of the first pipe.