The liquid yield resulting from the condensable vapors from the lignin pyrolysis is quite low and is reported in the range of 20–37 wt% [4,5].Fast pyrolysis liquid, also called bio-oil, has tremendous potential as a fuel oil substitute. The heating value of raw bio-oils is around 17 MJ/kg [3], which is equivalent to approximately 40% of the heating value of diesel. The relatively low heating value of the bio-oil is due to its high water concentration (typically in the range between 15 and 30 wt%) and high oxygen content (35–40%). Bio-oils also have other undesirable properties for fuel application, such as low thermal stability, high corrosiveness and high acidity. The upgrading of bio-oils is crucial to convert bio-oils into stable liquid fuels [6,7].The heating value, corrosiveness and the phase stability of the bio-oils can be greatly improved by decreasing the water content of the bio-oils. Lately, researchers around the world have been extensively investigating the fractional condensation method for the separation of the constituents of the bio-oil [8–11]. In the fractional condensation process, the bio-oil vapor stream from the fast pyrolysis reactor is passed through a series of condensers maintained at different, gradually decreasing temperatures to allow the collection of liquid fractions of different physical and chemical properties in each condenser.