Many factors, such as climate change and the associated risk of increasing the average temperature on the globe, energy security and the finishing of fossil fuel deposits have caused other renewable energy sources to be sought. Transport, as a branch of industry largely responsible for air pollution and greenhouse gas emissions in large cities, requires the necessary changes in the way vehicles are powered. Until now, the fuels available at petrol stations use admixtures of first generation biofuels, such as bioethanol, as a 5% additive to motor gasolines and biodiesel (FAME) as a 7% additive to diesel oil. The article presents the idea of biorefinery installations, specifies the spectrum of substrates of the second and advanced generations, which may be a biorefinery input, including waste oils that can be used to produce hydrogenated HVO vegetable oils and other high-value products. The paper presents he existing biorefinery plant in Venice resulting from the transformation of a conventional oil refinery in which HVO fuel is produced. The article also presents the parameters of this new biofuel and compared them with the parameters of other fuels used to power self-ignition engines, such as FAME and diesel, along with discussing the prospects for HVO fuel development in Europe.