Houston energy tech platform Molecule closes series B funding

energy software

Molecule has closed its latest investment round. Photo via Getty Images

Houston-based energy trading risk management (ETRM) software company Molecule has completed a successful series B round for an undisclosed amount, according to a July 16 release from the company.

The raise was led by Sundance Growth, a California-based software growth equity firm.

Sameer Soleja, founder and CEO of Molecule, said in the release that the funding will allow the company to "double down on product innovation, grow our team, and reach even more markets."

Molecule closed a $12 million Series A round in 2021, led by Houston-based Mercury Fund, and has since seen significant growth. The company, which was founded in 2012, has expanded its customer base across the U.S., U.K., Europe, Canada and South America, according to the release.

Additionally, it has launched two new modules of its software platform. Its Hive module, which debuted in 2022, enables clients to manage their energy portfolio and renewable credits together in one scalable platform. It also introduced Elektra, an add-on for the power market to its platform, which allows for complex power market trading.

"Four years ago, we committed to becoming the leading platform for energy trading," Soleja said in the release. "Today, our customers are managing complex power and renewable portfolios across multiple jurisdictions, all within Molecule.”

Molecule is also known for its data-as-a-lake platform, Bigbang, which enables energy ETRM and commodities trading and risk management (CTRM) customers to automatically import trade data from Molecule and then merge it with various sources to conduct queries and analysis.

“Molecule is doing something very few companies in energy tech have done: combining mission-critical depth with cloud-native, scalable technology,” Christian Stewart, Sundance Growth managing director, added in the statement. “Sameer and his team have built a platform that’s not only powerful, but user-friendly—a rare combination in enterprise software. We’re thrilled to partner with Molecule as they continue to grow and transform the energy trading and risk management market.”

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Houston-based energy tech-oriented companies will be invited to the pitching event for Antwerp and Houston Cleantech Entrepreneurs from 2 to 5 pm on December 3 at The Ion. Photo via the Ion

Houston to host cleantech collaboration with delegation from Belgium

this week

A delegation of nine startups from Antwerp, Belgium, along with industry experts will visit Houston from December 2 through December 6, which will include The Greater Houston Partnership, Greentown Labs, The Ion, and The Cannon.

The delegation will represent cleantech, sustainable chemistry, and energy tech sectors to engage with Houston’s energy transition ecosystem and identify collaboration and investment opportunities.

Houston-based energy tech-oriented companies will be invited to the pitching event for Antwerp and Houston Cleantech Entrepreneurs from 2 to 5 pm on December 3 at The Ion. Interested entrepreneurs can register at this link.

Antwerp and Houston are considered two of the world's largest petrochemical hubs, and also part of the leading innovators in the cleantech, sustainable chemistry, and energy tech sectors. The event will be organized by the Port of Antwerp-Bruges, BlueChem (an Antwerp-based sustainable chemistry incubator), the city of Antwerp, and Flanders Investment and Trade.

“Antwerp and Houston are known for their ports and petrochemical industries, but fewer people realize the remarkable cleantech, sustainable chemistry, and energytech ecosystems that have emerged around these hubs,” Nathalie Mathys, head of office at FIT Houston, says in a news release.

The Port of Antwerp-Bruges is known for innovating new technologies, which includes 5G, digital twins, artificial intelligence, drones, and advanced sensors. Antwerp has over 350 startups and nine incubators and accelerators.

“This delegation visit highlights the potential for collaboration between two of the most dynamic regions in these fields, paving the way for a cleaner, more sustainable future,” adds Mathys.

Ali Mostafavi, founder of Resilitix.AI, joins the Houston Innovators Podcast to discuss how he pivoted to provide important data amid Hurricane Beryl. Photo via tamu.edu

Why this entrepreneur believes Houston should lead resilience technology alongside the energy transition

tune in

When it comes to developing resilience technology, Houston startup founder Ali Mostafavi knows he's in the right place.

Mostafavi, a civil and environmental engineering professor at Texas A&M University, co-founded Resilitix.AI two years ago, and with the help of his lab at A&M, has created a platform that brings publicly available data into AI algorithms to provide its partners near-real time information in storm settings.

"We are very excited that our company is Houston based," he says on the Houston Innovators Podcast. "We should not be just ground zero of disasters. We have to also be ground zero for solutions as well. I believe Houston should be the hub for resilience tech innovation as it is for energy transition.

"I think energy transition, climatetech, energy tech, and disaster tech go hand in hand," Mostafavi continues. "I feel that we are in the right place."

Earlier this month, Mostafavi got an unexpected chance to pilot his company's data-backed and artificial intelligence-powered platform — all while weathering one of Houston's most impactful storms.

As Hurricane Beryl came ashore with Houston on its path, Mostafavi says he had the opportunity to both test his technology and provide valuable information to his community during the storm.

"We were in the process of fine tuning some of our methods and algorithms behind our technology," Mostafavi says. "When disasters happen, you go to activation mode. We put our technology development and R&D efforts on hold and try to test our technology in an operational setting."

The platform provides its partners — right now, those include local and state organizations and emergency response teams — information on evacuation reports, street flooding, and even damage sustained based on satellite imagery. Mostafavi says that during Beryl, users were wondering how citizens were faring amid rising temperatures and power outages. The Resilitix team quickly pivoted to apply algorithms to hospital data to see which neighborhoods were experiencing high volumes of patients.

"We had the ability to innovate on the spot," Mostafavi says, adding that his own lack of power and internet was an additional challenge for the company. "When an event happens, we start receiving requests and questions. ... We had to be agile and adapt our methods to be responsive. Then at the same time, because we haven't tested it, we have to verify that we are confident (in the information we provide)."

On the episode, Mostafavi shares how Hurricane Harvey — which occurred shortly after Mostafavi moved to Houston — inspired the foundation of Resilitix, and he also explains how he plans to grow and scale the business.

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This article originally ran on InnovationMap.

The Baker Hughes Technology Showcase opens — and more things to know this week. Photo courtesy of Baker Hughes

New Houston energy tech showroom, a deadline not to forget, and more to know this week

take note

Editor's note: It's a new week — start it strong with three quick things to catch up on in Houston's energy transition: looking back on top news from 2023, a deadline not to miss, and more.

New Baker Hughes Technology Showcase

The Baker Hughes Technology Showcase exists permanently at the company's Western Hemisphere Education Center in Tomball just outside of Houston to display the company's technologies.

There are more than 30 physical displays — some scaled down and 3D printed while others are exact replicas of the technology out in the field. In addition to these tangible pieces, hundreds are available to peruse on the touch-screen displays.

While there's the full technology spectrum represented, there's a particular focus on clean energy technologies — ones that aren't just future facing but are actually being used in the field today. Read more about the new showcase.

Upcoming deadline: The DOE's EnergyTech University Prize

The Rice Alliance for Technology and Entrepreneurship will host the regional qualifier for a Department of Energy-backed student competition, and the application deadline to participate is coming up.

The DOE's EnergyTech University Prize, or EnergyTech UP, a virtual regional qualifier hosted by the Rice Alliance will take place in February, and applications for students and faculty are now open. A $400,000 collegiate competition, the program challenges student teams to develop a business plan based off of National Laboratory-developed or other emerging energy technology.

The application deadline is February 1 for students. This year there's a new track for faculty that has a prize of $100,000 on the line. Faculty have until January 5 to apply. Learn more.

The year in review

All month long, EnergyCapital has been looking back at 2023 — specifically the second half of it, seeing as EC's launch was this summer — to see what articles were the most read by subscribers. Here are all of these roundups:

The acquisition is inline with "DNV's ongoing commitment to support customers in leading and accelerating the energy transition." Photo courtesy of DNV

Norway-based risk management company acquires Houston energy SaaS biz

M&A Moves

A Norwegian company that specializes in risk management in the maritime industry has acquired a Houston software business.

DNV announced the acquisition of Houston-based ANB Systems earlier this month. ANB's software-as-a-service platform provides energy program services to utility and regulatory body customers. The terms of the deal were not disclosed.

“ANB has grown steadily across its software products, its services, and its customers, through its configurable and scalable low-code proprietary software platforms," S. Balakrishnan, CEO of ANB Systems, says in the news release. "The acquisition by DNV will provide us with the resources for product development and operations, as well as give us global market reach. Most importantly, this will give us the resources to ensure we continue providing excellent customer implementation and support via our successful ReSULTS framework.”

The two companies have collaborated previously, and the acquisition is inline with "DNV's ongoing commitment to support customers in leading and accelerating the energy transition," as the company describes in the release.

"Energy efficiency is one of the defining features of the energy transition and the acquisition of ANB, with its strong focus on quality software solutions, will strengthen and expand our offerings in energy management and related services particularly in North America," Remi Eriksen, group president and CEO of DNV, says in the release.

Since its inception in 1997, ANB has developed digital solutions for automation within energy efficiency, electric vehicles, and more. Its platform is powered by artificial intelligence and machine learning.

"The collaboration between DNV and ANB will bring together two world-class teams, combining insights and experience to deliver comprehensive solutions to customers," Ditlev Engel, CEO of Energy Systems at DNV, says. "ANB Systems was founded with a clear mission - to partner with their customers to create best-in-class technology solutions that empower energy companies to provide best-in-class service including artificial intelligence.

"The company has grown and gained remarkable expertise in developing digital solutions for clean energy programs," he continues. "Together, DNV and ANB Systems are committed to accelerating the transition towards decarbonized, safe, and smart energy systems, enabling a sustainable future for all.”

The deadline to apply to participate in an upcoming energy-focused event is approaching. Photo courtesy of Rice

Rice Alliance calls for participants for its annual energy conference

now's the time to apply

This year marks the 20th anniversary of Energy Tech Venture Day, a one-day symposium for energy innovation put on by the Rice Alliance for Technology and Entrepreneurship. The organization is currently calling for applications for startups interested in participating.

The event is taking place on September 21 at Rice University and will bring together energy innovators, investors, corporate leaders, and the rest of the energy ecosystem. The programming will include panels and discussions as well as startup pitches from the Rice Alliance's Clean Energy Accelerator 2023 cohort.

In addition to the CEA pitches, energy tech startups from around the world can apply to be a part of the day and be in the running to be recognized as a select group as the "most-promising" at the conclusion of the pitches. Applications can be filled out online and are due July 14. Registration is also open online.

According to Rice, 90 or so companies will be selected to participate in one-on-one meetings with around 75 investors. The organization conducts a unique matchmaking round that pairs up investors and founders for four to 10 of these office hour meetings which will take place the day before the main event.

On the day of the Energy Tech Venture Day, around 40 companies will pitch to the rest of the crowd. At the end of the day and based off the investor feedback from the one-on-one meetings, 10 energy tech startups will be deemed the most-promising businesses and be presented with awards.

Last year, over a third of the companies that pitched were based in the Houston area. Two Houston-based companies received awards at the end of the day, including:

Kanin Energy, which works with heavy Industry to turn their waste heat into a clean baseload power source. The platform also provides tools such as project development, financing, and operations.
Syzygy Plasmonics, which is commercializing its light-reacting energy, which would greatly reduce carbon emissions in the chemical industry. The technology originated out of Rice University.

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10 can't-miss events at Houston Energy and Climate Week 2026

where to be

Editor's note: Houston Energy and Climate Week returns for its third year, Sept. 12–18, with panels, happy hours, pitch days and tours focused on the energy transition.

The Ion District will host many of the week's events. Here are details on some can't-miss, signature events and how to register. Find the full schedule here. Please note: this article may be updated to add more events.

Sept. 13 — The & Awards

Kick off the week by celebrating Houston honorees leading the future of energy at the & Awards. The & Awards will honor Zay Zeidman, chairman of Houston First and managing partner of Altitude Ventures; The University of Houston's Renu Khator and Ramanan Krishnamoorti; Maryanne Maldonado, CEO of the World Affairs Council; and Fervo Energy co-founders Tim Latimer (CEO) and Jack Norbeck (CTO). The inaugural posthumous Lifetime Ambassador Award will honor former Houston Mayor Sylvester Turner, and this year’s Allies in Energy grant recipients will also be recognized. The evening will include a fireside chat, an immersive gallery, live music, passed hors d'oeuvres, Champagne and plenty of networking opportunities.

This event is Sunday, Sept. 13, from 6-9 p.m. at ARTECHOUSE Houston. Register here.

Sept. 14 — Brews on the Bayou

Head to Saint Arnold Brewery for a more laid-back kickoff event. Grab a beer and take in a live conversation with Paul Hobby, managing director of Genesis Park, and Katie Mehnert, CEO of The Bee Suite and co-founder of HECW. Rice University's Aaron Pomerantz will moderate the discussion. Then hear a live performance from AY Young.

This event is Monday, Sept. 14, from 6-9 p.m. at Saint Arnold Brewery. Register here.

Sept. 14–18 — Sip For Sustainability

Enjoy a signature cocktail at five H Town Restaurant Group spots each night of Houston Energy and Climate Week. A portion of every purchase will go toward Allies in Energy, which supports education, collaboration, and community programs that drive a more sustainable future. Participating eateries include Hugo's, Xochi, Uber, Zaranda and Caracol.

These events begin Monday, Sept. 14, from 3-5 p.m. Find more information on each day's happy hour here.

Sept. 15 — HTX Tech Tours

HECW will present two Tech Tours this year, offering attendees a closer look at the region's climatech scene. The Metro Innovation Tour & Market will visit Sugar Land Town Square, Shell Technology Center Houston, SLB West Houston Campus, University of Houston at Sugar Land, Ambrosia Space, NanoTech Materials and Syzygy Plasmonics. The Bay City South Innovation Tour will visit Sugar Land Town Square and Erthos Project Bravo in Matagorda County. Both tours will head to Astros Night at Daikin Park to wrap up the day.

These events are Tuesday, Sept. 15. Find more information here.

Sept. 15 — Meet the Activate Houston Cohort 2026 Fellows

Meet Activate's latest cohort, which was named this summer, and learn more about their hardtech and climate-focused solutions. Also meet founders from the organization’s 2025 cohort during Houston Energy and Climate Startup Week.

This event is Tuesday, Sept. 15, from 5-7 p.m. at the Ion. Register here.

Sept. 15 – Cypher Pilotathon and Startup Showcase

Grab coffee and take in keynotes and panels featuring leaders from Amperon, Aramco Ventures, New Climate Ventures, Syzygy Plasmonics and many others during this signature event, this year under the theme “The NEW Energy Industrial Revolution.” After lunch, hear pitches from 31 ventures during the Pilotathon. This year's event will also feature a startup showcase with interactive booths where attendees can meet founders and see demonstrations, plus an industry hub where corporates and investors can engage with emerging technologies and identify the pilots they want to move forward with.

This event is Tuesday, Sept. 15, from 9 a.m.-5 p.m. at POST Houston. Get tickets here.

Sept. 15 — Houston Astros Energy Night

Catch a game and chat with fellow clean energy enthusiasts during Houston Astros Energy Night. The 'Stros take on the Kansas City Royals. A bonus? Dollar Hot Dog Night at Daikin Park.

This event is Tuesday, Sept. 15, starting at 7:10 p.m. at Daikin Park. Get tickets here.

Sept. 16 — Greentown Labs Climatech Summit

Entrepreneurs, investors, corporate leaders, policymakers and philanthropists will head to Houston this month for the annual Greentown Climatetech Summit. Hear from Greentown CEO Georgina Campbell Flatter and keynote speaker Tim Latimer, CEO and co-founder of Houston geothermal unicorn Fervo Energy, plus numerous other engaging panels at the Ion. Then head to Greentown Labs for an open house and startup showcase, where attendees can meet some of the climatech incubators' members, before taking in the startup pitch competition followed by happy hour over at the Continental Club.

This event is Wednesday, Sept. 16, from 8 a.m.–9 p.m. at multiple locations. Register here.

Sept. 17 — Rice Alliance Energy Tech Venture Forum

Hear from clean energy startups from around the world at the 23rd annual Energy Tech Venture Forum. In addition to the pitches, this event will also host keynotes from Sean Maher, chief economist at Phillips 66, and Ira Ehrenpreis, founder and managing partner of DBL Partner. Panels will focus on technologies, infrastructure and commercialization strategies needed to deploy breakthrough innovations at scale. Following the event, the Rice Alliance will also name its annual “Most Promising” startup.

This event is Thursday, Sept. 17, from 7:30 a.m.-5 p.m. at Rice University’s Jones Graduate School of Business. Register here.

Sept. 18 — Halliburton Labs Finalists Pitch Day

Hear from Halliburton Labs' latest cohort of entrepreneurs. The incubator aims to advance the companies’ commercialization with support from Halliburton's network, facilities and financing opportunities. Its latest cohort includes one company from Texas.

This event is Friday, Sept. 18, from 8 a.m.-noon at The Ion. Register here.

UH report says CO2 technology could unlock 137B barrels of U.S. oil

oil recovery

A new report from the University of Houston estimates that a method known as carbon dioxide-enhanced oil recovery (CO2-EOR) could recover roughly 137 billion barrels of U.S. oil—with Texas and the Gulf Coast poised to play a major role.

A UH Energy-produced white paper, titled “Revitalization of Mature Oil Fields: Opportunities and Challenges of CO2-EOR,” looks at how CO2-EOR could increase U.S. energy supply, reduce carbon emissions and lower the carbon intensity of oil production.

CO2-EOR injects pressurized carbon dioxide into mature oil wells to loosen and push oil trapped underground toward the production wells, allowing operators to extract oil typically left behind. The process permanently stores some CO2 underground, reducing carbon emissions and carbon intensity.

“Injected CO2 works to revitalize mature oil fields by reducing oil viscosity, improving sweep efficiency and restoring reservoir pressure, resulting in incremental oil production beyond primary and secondary recovery,” the report reads. “CO2-EOR also supports permanent carbon storage and by virtue of this will produce uniquely low-carbon intensity oil for global markets.”

Authored by Charles McConnell, executive director of UH's Center for Carbon Management in Energy, and Zhiyuan Li, a UH petroleum engineering doctoral candidate, the paper says that much of the opportunity lies right under the feet of Texas oil companies.

Texas and the Gulf Coast, including its offshore resources, have half of the nation's oil resources considered favorable for the CO2-EOR technology, the report says. According to UH, conventional U.S. oil reservoirs contain 624 billion barrels, with 434 billion barrels still underground, including about 20 billion barrels of proven reserves.

Still, the paper argues that the economics behind CO2-EOR need to be considered. The process’ success depends on a number of factors, including costs of carbon capture, field redevelopment, operations, monitoring, transportation and available tax incentives, according to UH.

Logistically, developing CO2-EOR operations out of older wells and infrastructure presents pros and cons. While using older wells can be more economical, aging infrastructure may require more frequent monitoring, inspection, repair or re-plugging, according to UH.

Ultimately, the report recommends focusing CO2-EOR development on mature oil fields with existing infrastructure, well-understood geology and reliable CO2 supplies. This approach, UH says, could help extend the productive life of existing oil fields while supporting “lower carbon intensity oil for global markets and a significant contribution to energy security.”

Read the full report here.

Amazon's EV robotaxi service Zook is set to arrive in Houston

EV News

Amazon-owned electric robotaxi ride-hailing service Zoox is zooming into Houston in September.

Initially, self-driving retrofitted SUVs with safety drivers on board will serve downtown Houston, centrally located tourist hotspots, and certain residential neighborhoods. The SUVs will test Houston roads before Zoox rolls out autonomous robotaxis, the company says.

Zoox takes Houston for a test drive

At the outset, Zoox says, a limited number of vehicles will be driven by people to gather data about Houston roads.

“This helps create a detailed picture of each street, from road geometry to traffic lights,” the company says. “Once we have mapped out an area, we will test autonomous driving capabilities. Safety and operational readiness govern the pace of our rollout.”

Zoox says its robotaxi differs from vehicles operated by other ride-hailing services.

The all-electric robotaxi “is purpose-built for autonomous ride-hailing and designed for riders from day one,” the company says. “It has no traditional driving controls and instead has carriage-style seating, sliding glass doors, and features that let the rider personalize their journey.”

To help manage the fleet, Zoox plans to open a depot in Houston for vehicle charging and maintenance, a representative says via email.

Along with Houston, Zoox is launching this month in San Diego. The ride-hailing service already operates in Austin, Dallas, Atlanta, Las Vegas, Los Angeles, Miami, Phoenix, the San Francisco Bay Area, Seattle, and Washington, D.C.

Zoox breaks into “sprawling” Houston market

Zoox describes Houston as its “most sprawling market to date.”

“Driving here means navigating complex service-road networks, unique merging scenarios, and challenging environmental conditions, including severe heat, heavy rain, and urban flooding,” the company says. “It’s a rigorous test of our technology across geography and terrain.”

Zoox will join two other autonomous ride-hailing services in Houston:

Waymo began rolling in Houston in February. Alphabet, the parent company of Google, owns Waymo.
Electric vehicle manufacturer Tesla began offering robotaxi services earlier this year.

A third Zoox competitor is arriving within the next year. A partnership comprising rideshare provider Uber, EV manufacturer Lucid, and autonomous technology company Nuro plans to launch a robotaxi service in Houston by mid-2027.

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This article originally appeared on CultureMap.com.

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