The mixture of horse manure and bedding materials (peat and sawdust) appear to be a potential biofuel. The chemical compositions of horse manure, bedding materials, and the mixture of these have been characterized by SEM-EDS and ICP-OES. In addition, the compositional distribution of ash of these materials has been determined and this facilitates the estimation of their propensity for ash-related problems in boilers. NOx and SOx emissions from the co-combustion are also discussed on the basis of the chemical composition of fuel mixtures. It seems that co-combustion of horse manure and bedding materials in FB boilers is suitable for small-scale energy production.