Carbon monoxide is a toxic substance produced by the incomplete combustion of carbon compounds.

Literal

Carbon-monoxide [definition-とは] carbon-compound [possessive-の] incomplete-combustion [by-で] generated harmful-substance [copula-です].

The ~とは construction signals a definition: 'X とは Y です' means 'X is (defined as) Y.' All vocabulary is Sino-Japanese compounds: 一酸化炭素, 炭素化合物, 不完全燃焼, 有害物質. A textbook chemistry definition that shows how Japanese builds technical vocabulary from kanji building blocks.