Large scale biomass utilisation in energy-related applications is of paramount importance to reduce the fossil CO2 emissions. At European level, about a third of energy consumption is expected to be covered by renewables in the next 15 years. In addition, the CO2 emissions need to be reduced by 40% compared to the 1990 level. Within this context, innovative energy-efficient low carbon technologies have to be developed. Chemical looping is a promising conversion option to deliver reduced energy and cost penalties for CO2 capture. This paper assesses biomass direct chemical looping (BDCL) concept for hydrogen and power co-production. The concept is illustrated using an ilmenite-based system to produce 400-500 MW net power with flexible hydrogen output (up to 200 MWth). The performances are assessed through computational methods, with the mass and energy balances being used for in-depth techno-economic analysis. The biomass direct chemical looping delivers both high energy efficiencies (similar to 42% net efficiency) with almost total carbon capture rate (>99%). compared to other CO2 capture options (e.g. gas-liquid absorption). The economic parameters show also a reduced CO2 capture cost penalty for biomass direct chemical looping technology compared to gas-liquid absorption (e.g. 7% reduction of specific capital investment). (C) 2015 Elsevier B.V. All rights reserved.