A hydrothermal liquefaction (HTL) system can comprise a biomass slurry source, a first pump in fluid communication with the slurry source and configured to pressurize a biomass slurry stream from the slurry source to a first pressure, a first heat exchanger in fluid communication with the first pump and configured to heat a slurry stream received from the first pump to a first temperature, a second pump in fluid communication with the first heat exchanger and configured to pressurize a slurry stream received from the first heat exchanger to a second pressure higher than the first pressure, a second heat exchanger in fluid communication with the second pump and configured to heat a slurry stream received from the second pump to a second temperature higher than the first temperature, and a HTL reactor configured to produce biocrude from a slurry stream received from the second heat exchanger.