Disclosed herein is a binder-free product and process for making the product. The product is a mechanically stable, water resistant torrefied biomass product that does not comprise an extrinsic binder additive. The product is made using a combination of appropriate pre-treatment steps and compressing the conditioned biomass feedstock into a thermally managed compaction device comprising at least one modified die. The modified die allows for differential cooling/heating modifications so as to control the temperature near the entrance to the compaction device and passing the formed torrefied biomass into a post-formation curing zone.