A novel bio-based hydrogen production process concept is simulated using Aspen Plus software. In the concept, hemicellulose is first extracted from birch wood using aqueous formic acid (FA). The dilute FA is then decomposed and used synergistically as a source of H2. The hemicellulose monosaccharides in the dilute aqueous hydrolysate are hydrogenated to their corresponding sugar alcohols, which are further processed to H2, various alkanes and carbon dioxide using aqueous phase reforming (APR). In addition to H2 and electricity, cellulose and lignin rich solid wood fraction is produced. However, the case study revealed high heating requirements of dilute aqueous hydrolysate stream to APR reaction temperatures. High degree of APR effluent recycling to the extraction stage is considered, resulting in a relatively high concentration of the required fresh FA stream in the process concept.