Process for the production of liquid fuels from biomass

Process for continuously producing a hydrocarbon product having an enhanced energy density from biomass, comprising

• a first step in which a biomass-containing aqueous feed that is not pre-heated or is pre-heated in the range of 50-95° C. is subjected to a treatment which comprises bringing the feed in a single step from a pressure of 5 bar or less to a pressure of 100-250 bar,
• a second step subsequent to the first step in which the temperature of the pressurized feed is increased from 95° C. or less to above 180° C. and the pressurized feed is kept at a temperature not exceeding 280° C. over a period of up to 60 minutes, thereby forming a reaction mixture,
• a reaction step in which the reaction mixture is heated over a period of up to 60 minutes to a temperature exceeding 280° C.