A continuous bubbling fluid bed process converts biomass feedstocks into energy/heat, engineered biochar particles (including nanoparticles) and a vapor stream of organic compounds. The products have a multitude of applications determined by the specific conditions at which the process was operated, specifically controlling: temperature, catalysts, residence time, element and compound concentrations, and withdraw of products from various points in the system. The introduction of air, steam, and various gases into the vessel at selected locations and at controlled rates enables the economic, dependable and consistent production of these products.