Houston energy tech company Molecule makes gas operations acquisition

software acquisition

Molecule has made a strategic acquisition following the closing of its Series B last summer. Photo via Getty Images

Houston-based energy trading risk management (ETRM) software company Molecule has announced the acquisition of Dallas-based Trilogy Energy Solutions.

Molecule CEO Patrick Smith called the deal a "defining moment" for the company, as it allows Molecule's platform to expand to include physical gas operations.

“For years, this industry has drawn the ETRM box too small, creating inefficient silos by treating trading and physical operations as separate budgets and separate problems, when the real cost lives in the handoffs between them," Smith said in a news release. "Trilogy’s domain expertise in physical gas operations closes that gap. Together, we can give producers, midstream operators, and trading desks something the market has been asking for: a single, integrated view from wellhead to trading desk, without the manual reconciliation, spreadsheet workarounds, and legacy handoffs that slow the industry down.”

Trilogy, founded in 2014, is a provider of cloud-based software for the day-to-day logistics of physical natural gas operations. The platform allows users—including producers, marketers, midstream companies, pipeline operators and others—to manage activities such as pipeline nominations, gas gathering operations and more. Thus far, Molecule's platform has focused on energy trading and managing financial and commercial activities.

Through the acquisition, the combined company will now offer a full-stack enabled ETRM and energy operating system. Users of both platforms can expect continuity of service, according to the companies.

“Molecule has always been about meeting trading teams where they actually work, focused on being fast, accurate, and deeply integrated into their day-to-day workflow,” Sameer Soleja, founder and president of Molecule, added in the release. “Bringing Trilogy into the Molecule family extends that mission from the trading desk into the physical operations of the gas business. The two platforms complement each other exceedingly well, and the combined product will be able to offer all-in-one capabilities that lead the ETRM market, both in its tech-forward nature, and in its depth.”

Molecule expects the combined platform to help users reduce manual month-end close work, cut costs, and improve data accuracy and decision-making.

Trilogy's Chief Product Officer Jeremy Frye will join the Molecule team, along with others from Trilogy.

“Trilogy has spent decades building the trust of companies across the physical natural gas industry by delivering software that stands up to the demands of physical gas operations... It’s a rare combination that brings the best of both worlds, and I’m energized about what our teams will build together,” Frye added in the release.

California-based Sundance Growth, an existing investor in Molecule, supported the acquisition. The software growth equity firm raised a $125 million debut fund in 2025 and focuses on B2B SaaS companies.

Sundance led Molecule's Series B round, which closed last summer for an undisclosed amount. At the time, Soleja said the funding would allow Molecule to "double down on product innovation, grow our team, and reach even more markets."

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

Houston energy tech platform Molecule closes series B funding

energy software

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.”

Molecule Software made enhancements to its product, called Hive, to enable its clients to manage their energy portfolio and renewable credits together in one scalable platform. Image via molecule.io

Houston tech company expands platform to include renewable certificates

upgrade

A Houston-based energy trading risk management software company announced enhancements to its platform that will simplify the process of managing and allocating renewable energy certificates — a tool to help to meet demand obligations.

Molecule Software made these new enhancements to its product, called Hive, to enable its clients to manage their energy portfolio and renewable credits together in one scalable platform. With Hive, users simplify massive data stacks and reduce manual workloads while preventing errors.

“Renewables are still a new frontier, and one of the biggest challenges we’ve seen is modeling all their nuances in a way that makes sense for informing retirement and predicting the market,” says Sameer Soleja, founder and CEO of Molecule, in a news release. “Another major challenge is the sheer volume of data associated with modeling certificates and their individual serial numbers.”

Hive was first onboarded to Molecule’s core ETRM platform in 2022, and already provides its users renewable certificate management — including trading, forecasting, minting, matching, allocation, and traceback. Now, Hive also has improved visibility, navigation, auditing, and more — all tools that make renewable certificates easier to manage and meet carbon offset obligations.

“Renewable certificates are becoming de rigueur in the market as energy companies’ businesses grow and they open new trading desks for them. Molecule offers what we see as the most mature solution in the market for handling renewable instruments, reliably and at scale,” continues Soleja. “We’re continuing to build more within Molecule to make that functionality even more valuable for our customers.”

Molecule Software has some fresh tech for its clients across the energy industry from renewables to O&G and more. Photo via Getty Images

Houston energy tech platform expands with new data tools

bigbang's big splash

Houston startup Molecule Software hopes to get a big bang out of its new platform for the energy and commodities markets.

The data-as-a-lake platform, Bigbang, is available as an add-on for current Molecule customers. It enables energy trading and risk management (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 sells Bigbang at a monthly rate through either a yearly or multiyear contract.

“We’re seeing a growing need in the energy and commodities trading space for a turnkey data lake, as indicated by our own customers. They need real-time and automated data streaming from key systems, the ability to query the data quickly and easily, and access to the data using the analytics tools they know well,” says Sameer Soleja, founder and CEO of Molecule.

Sameer Soleja, founder and CEO of Molecule, has expanded his company's platform. Photo courtesy of Molecule Software

Founded in 2012, Molecule specializes in cloud-based trading and risk management software for the energy and commodities sectors. Among the business segments that use Molecule’s software are electricity, natural gas, crude and refined products, chemicals, agricultural commodities, metals, and cryptocurrency.

“Energy and commodities markets have been undergoing a seismic shift, driven by two key factors: increasing price volatility across all commodities and a global energy transition stemming from the challenges of climate change,” Molecule says in a news release. “Given these market trends, near real-time data access and advanced trading analytics are essential for effective portfolio risk management.”

In 2021, Molecule closed a $12 million series A funding round led by Houston-based VC firm Mercury Fund. Seven years earlier, Molecule received a $1.1 million seed round from Mercury and the Houston Angel Network.

In a 2021 interview with the Houston Innovators Podcast, Soleja described how Molecule helps its customers assemble scattered data.

“The way to think about the product is if you have a brokerage account — like Robinhood, or something like that — you see how much stock you have and how much you’ve made or lost,” Soleja said.

“For companies that are trading electricity, crude oil, natural gas, and other commodities and agricultural products, they also want to see how much of each thing they have and how much they’ve made or lost. But they don’t just get to log into their brokerage account and figure it out. That’s in a lot of different places.”

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This article originally ran on InnovationMap.

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ENGIE inks deal to supply wind energy for Oracle’s Texas operations

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Houston-based renewable energy company ENGIE North America has made a deal to supply up to 568 megawatts of renewable electricity for tech giant Oracle's projects in Texas.

The power will come from ENGIE’s wind resources serving the Electric Reliability Council of Texas (ERCOT) grid. Oracle is developing data centers in Abilene and Shackelford, Texas, according to its website.

The Oracle deal is part of ENGIE’s efforts to bring substantial new electricity supply to the grid. In the past six years, ENGIE has developed 12 gigawatts of new renewable generation and battery storage capacity in North Americas, equaling $11 billion in capital, according to the company.

"Our customers are looking for reliable, scalable energy solutions that can support long-term growth," Anne-Laure Chassanite, interim CEO of ENGIE North America, said in a news release. "ENGIE has invested heavily in developing new generation resources across North America, and we're pleased to support Oracle as it continues to expand its operations in Texas. These agreements reflect the strength of our portfolio and our ability to deliver customized energy solutions that help customers meet their business objectives.”

Computer technology and cloud computing company Oracle is working towards its goal to match 100 percent of AI data center electricity use with carbon-free electricity by 2035.

"Oracle is taking a responsible approach to meeting the energy needs of our growing AI and cloud operations in Texas — investing in carbon-free electricity without shifting costs to consumers," Julia Robin, head of infrastructure planning and sourcing for Oracle Cloud Infrastructure, added in the release. "Our agreements with ENGIE advance Oracle's goal to match 100 percent of our AI data center electricity use with carbon-free electricity by 2035, while supporting long-term economic growth with no cost impact to the state of Texas.”

ENGIE also recently won the 2026 Green Power Leadership Award in the Market Innovation category for its work advancing 24/7 renewable energy solutions. The awards honor individuals and companies advancing sustainability and renewables in the energy industry through innovation and leadership.

The company has inked major deals to supply renewable energy to other major companies like Meta, Daikin and others.

Houston energy and innovation leaders come together at Argonne National Laboratory

The view from heti

Nearly 20 companies from Houston, ranging from global multinationals to innovative startups, joined the team at Argonne National Laboratory in Lemont, Illinois, for a full day of meetings, discussions, and networking focused on advancing innovation, commercialization, and industry collaboration.

The fly-in organized by the Houston Energy Transition Initiative, provided a unique opportunity for companies to engage directly with Argonne researchers, technical experts, and leadership while gaining a deeper understanding of the laboratory’s world-class capabilities. Participants explored how national laboratories can help bridge the gap between breakthrough research and commercial deployment, particularly in areas critical to U.S. competitiveness and economic growth.

The significance of this engagement extends beyond a single visit. While the U.S. Department of Energy operates 17 national laboratories, none is located along the Gulf Coast, a region uniquely home to industry, infrastructure, and energy systems at commercial scale. HETI’s continued work with the national laboratories helps bridge that geographic and operational gap by connecting world-class scientific research with companies that understand how to scale and deploy technologies. The Argonne fly-in also created space to address practical barriers to collaboration, including complex agreements and lengthy contracting timelines, and to explore ways to establish partnership frameworks more efficiently.

Explore HETI’s key takeaways from the fly-in:

1. Scaling Technologies for Commercial Use

A central theme was the importance of scale-up infrastructure and the role Argonne plays in helping companies reduce technical and manufacturing risks. Participants learned how facilities such as the Materials Engineering Research Facility (MERF) support the transition from laboratory discoveries to pilot-scale production and ultimately commercial manufacturing. These capabilities are especially valuable for companies working to move promising technologies from concept to market.

The discussions also highlighted Argonne’s extensive work in critical materials, battery recycling, advanced manufacturing, and supply chain resilience. Attendees learned about initiatives including the ReCell Center, AI-enabled materials discovery, and advanced modeling tools that can help businesses understand supply chain vulnerabilities and evaluate mitigation strategies. These capabilities have applications across energy, chemicals, manufacturing, semiconductors, defense, and emerging technologies.

2. Creating Pathways for Collaboration

Another key takeaway was the importance of engaging early. Companies do not need to arrive with a fully developed project or solution. Argonne offers multiple pathways for collaboration, including sponsored research, user facility access, technology licensing, pilot-scale testing, and Cooperative Research and Development Agreements (CRADAs). These partnerships help companies access specialized expertise, facilities, and analytical tools that can accelerate innovation and commercialization

3. Building Connections Across Industry and Research

The fly-in reinforced the value of relationship building. Bringing together nearly 20 organizations in one place created meaningful opportunities for collaboration, knowledge sharing, and identifying future projects.

The conversations throughout the day demonstrated a shared commitment to strengthening domestic innovation, developing resilient supply chains, and creating pathways to bring new technologies to market.

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This article originally appeared on the Greater Houston Partnership's Houston Energy Transition Initiative blog. HETI exists to support Houston's future as an energy leader. Learn more about HETI’s role in advancing solutions and building partnerships to leverage Houston’s industry leadership for an energy-abundant, low-carbon future.

Fervo produces first geothermal power at flagship Utah project

energy milestone

Fervo Energy’s flagship project in Utah just generated its first geothermal power.

The electricity is now flowing to the power grid from one of Cape Station’s three generation units, Houston-based Fervo said in a news release. This represents an early but important milestone for the project, as the unit isn’t scheduled to deliver contracted power until Oct. 1.

The achievement, coming four months after Fervo’s roughly $2.2 billion IPO, demonstrates the viability of enhanced geothermal systems (EGS).

“This is a gamechanger for the geothermal industry. It establishes EGS as the defining new power generation technology of our time, and we believe it shows that the commercial and technical maturity of EGS is ready to meet the urgent need for reliable, clean power,” Tim Latimer, co-founder and CEO of Fervo, said in the release.

The plant’s two other units are scheduled to launch commercial operations on Jan. 1.

The three units make up the project’s 99-megawatt first phase. The next phase, which will add 400 megawatts of capacity, is under construction. The second phase is set to go online in 2028.

Altogether, Cape Station will provide more than 4 gigawatts of capacity, with 900 megawatts already spoken for. The 900 megawatts of contracted electricity would be enough to power nearly 1 million U.S. homes per year.

“Cape Station works because we treated the subsurface like an engineering challenge,” Jack Norbeck, co-founder and chief technology officer of Fervo, added in the release. “Years of drilling, completion design, subsurface modeling, and flow testing led to this moment, and this is the validation that matters most.”

Enhanced geothermal continuously draws on heat that’s deep underground, producing electricity around the clock regardless of weather or time of day. That makes it one of the only carbon-free resources capable of constant power delivery, which is critical for data centers and AI infrastructure.

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