NOVELTY - Producing energy-dense biomass and fermentable sugars from cellulosic biomass, comprises (a) providing a feedstock comprising cellulosic biomass, (b) extracting the feedstock with steam and/or hot water to produce an extract liquor containing hemicellulosic oligomers, dissolved lignin and cellulose-rich solids, (c) separating at least a portion of the hemicellulosic oligomers from the cellulose-rich solids, (d) torrefying the intermediate solids to produce the energy-dense biomass, (e) hydrolyzing the hemicellulosic oligomers into fermentable sugars, and (f) recovering the fermentable sugars.    USE - The process is useful for producing energy dense biomass and fermentable sugars from cellulosic biomass, where the energy dense biomass is useful for combustion to produce power and heat and gasification to produce syngas (all claimed), and the biomass includes plant and plant-derived material, vegetation, agricultural waste, forestry waste, wood waste, paper waste, animal-derived waste, poultry-derived waste, municipal solid waste, softwood chips, hardwood chips, timber harvesting residues, tree branches, tree stumps, knots, leaves, bark, sawdust, off-spec paper pulp, cellulose, corn, corn stover, wheat straw, rice straw, sugarcane, sugarcane bagasse, switchgrass, Miscanthus, animal manure, municipal garbage, municipal sewage, commercial waste, grape pumice, almond shells, pecan shells, coconut shells, coffee grounds, grass pellets, hay pellets, wood pellets, cardboard, paper, carbohydrates, plastic and cloth.    ADVANTAGE - The process prepares energy dense biomass for improved combustion with or without pelletizing the biomass, and recovers various co-products such as sugars, sugar fermentation products, furfural, levulinic acid, fertilizers and lignin with improved potential.    DETAILED DESCRIPTION - Producing energy-dense biomass and fermentable sugars from cellulosic biomass, comprises (a) providing a feedstock comprising cellulosic biomass, (b) extracting the feedstock with steam and/or hot water under effective extraction conditions to produce an extract liquor containing hemicellulosic oligomers, dissolved lignin and cellulose-rich solids, (c) separating at least a portion of the hemicellulosic oligomers from the cellulose-rich solids to produce intermediate solids, (d) torrefying the intermediate solids to produce the energy-dense biomass, (e) hydrolyzing the hemicellulosic oligomers into fermentable sugars, and (f) recovering the fermentable sugars.    DESCRIPTION OF DRAWING(S) - The figure shows a block diagram of a process for producing energy-dense biomass and fermentable sugars from cellulosic biomass.