Applied Carbon just raised $21.5 million to deploy a fleet of machines that turn agricultural waste into biochar.
Last fall, on a 1,000-acre family farm in Texas, a tractor drove through a cornfield pulling a shipping-container-sized machine behind it. In front, a mechanical harvester picked up cornstalks and other agricultural waste left behind after a recent harvest, chopping it into small pieces. Then the plant material went into the machine in the back, where it was heated to as high...