Abstract: A biofuel product comprises a slurry of pulverized combustible solid biomass material in a combustible liquid product of vegetable origin. In accordance with the invention, the product of vegetable origin is glycerol, and a mixture ratio between the glycerol and the pulverized solid biomass material is such, that the slurry at least upon heating to around 90° C. has a low viscosity and is pumpable. The glycerol utilized is obtained as a byproduct in the production of biodiesel fuel or soap, fatty acids, fatty alcohols or alkyl esters, and the pulverized combustible solid biomass material preferably is lignin powder, and/or wood powder and/or other pulverized vegetable solid biomass material, such as peat, and/or powder of carbon from vegetable material. The biofuel product may be used as a replacement for heavy fuel oil, for example.