Polymers that are created by the chemical polymerization of naturally occurring monomers are attracting considerable commercial interest in the last few years because of their non-toxicity, biodegradability and biocompatibility and use of feedstock that is renewable. The development of specialized lignin compounds, such as electrically conducting polymers, engineering plastics and polyurethane, is an area of highest interest and growth. The paper will present the comparison of the mechanical and thermal properties of conventional polyurethane and bio-based polyurethane, i.e. polyurethane based on polyols produced by liquefaction of waste wood biomass.