Bio-oil has the potential for multiple applications. These can range from a variety of combined heat and power options to the extraction of selected chemicals. Use as a substitute for hydrocarbon fuels in conventional prime movers to produce electricity or generate steam has been demonstrated but has not been commercially adopted. This is primarily due to lower cost for petroleum-based fuels compared to bio-oils. However, in some applications with more sophisticated prime movers such as internal combustion engines and aeroderivitive turbines, quality issues with the oil must still be addressed. Upgrading of bio-oils to higher value transportation fuels requires de-oxygenation and reforming of most of the compounds present in the bio-oil. Because of the large amount of oxygen present there will be a loss in mass (or volume) yield but this will be balanced against higher heating values. Overviews of these applications are provided below.