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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."

From Your Site Articles
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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Houston private equity firm's nuclear acquisition tops energy news to know

Trending Topics

Editor's note: The biggest energy transition headlines to close out July include a major acquisition and Department of Energy investments in Houston-led projects. Below are the five most-read stories published on EnergyCapitalHTX, July 15-31, 2026:

1. Houston PE firm makes latest nuclear industry acquisition

Houston-based private equity firm Pelican Energy Partners has acquired California-based Veridiam for an undisclosed amount in an effort to further increase the firm’s focus on the nuclear energy sector. Veridiam is a strategic manufacturer that specializes in the precision fabrication of components and assemblies made from exotic metals or advanced alloys for the nuclear, aerospace, defense, space and medical fields. Continue reading.

2. 4 Houston researchers awarded projects in DOE's Genesis Mission

The U.S. Department of Energy has named the nearly 300 projects selected under the Trump Administration's Genesis Mission, which aims to address some of the largest science and technology challenges in the country. The group features four projects from Houston universities and companies. The initiative aims to unite government, industry, academia and philanthropy to lead to breakthroughs in energy, scientific discovery and national security. Continue reading.

3. Shell strikes $1.8B deal to offload solar and wind assets in India

Reflecting its ongoing de-emphasis of renewable energy, oil and gas giant Shell has agreed to sell its solar and wind power business in India for $1.8 billion. Aditya Birla Renewables Ltd. (ABRen) is the pending buyer of Solenergi Power Private Ltd., including the Sprng Energy group of companies. Sprng Energy develops, owns and operates utility-scale solar and wind power facilities in India. Shell, whose U.S. headquarters is in Houston, acquired Solenergi in 2022 for $1.55 billion. Continue reading.

4. Houston company lands first deal from new Blackstone energy transition fund

Asset manager Blackstone has agreed to buy Houston-based Dresser Utility Solutions from Connecticut private equity firm First Reserve for an undisclosed amount. First Reserve has a major presence in Houston. The deal represents the first investment from Blackstone Energy Transition Partners V. “Blackstone’s deep resources and experience in the utility sector make them an ideal partner as we continue to invest in innovation, expand our product portfolio, and deliver value for our customers,” Dresser CEO David Evans said. Continue reading.

5. KBR appoints C-suite duo to lead forthcoming spinoff

In advance of the spinoff of its Mission Technology Solutions unit, Houston-based KBR has made two C-suite hires for the new business. Michael LaRouche is coming aboard as president and CEO of the spinoff, currently called SpinCo, on Sept. 26. Nicholas Veasey joined as executive vice president and chief financial officer on July 1. Continue reading.

Houston geothermal startup adds former bp, Calpine execs to C-suite

new leaders

XGS Energy, a Houston-based developer of geothermal power systems, has added several energy industry veterans to its C-suite this summer.

The company named Al Vickers as its new chief operating officer earlier this month. Vickers will replace Ghazal Izadi in the role, as she moves into the chief growth officer position.

Vickers previously served as CEO of bp's U.S. Low Carbon Energy business and most recently was COO of Houston-based Grid United, which develops next-generation transmission infrastructure.

“I have spent my career developing, building, and operating large, complex energy infrastructure, and I am excited to work with XGS’s proven technology, which is ready to deliver clean, round-the-clock power at the scale the grid and customers need,” Vickers said in a news release. “XGS sits at the intersection of innovation, affordability, demand growth, responsible infrastructure development, and long-term energy resilience. I’m excited to roll up my sleeves and apply best practices from both oil and gas and infrastructure development to deliver gigawatt-scale geothermal projects.”

Kurt Fricker, who most recently held leadership roles at Hess Corporation, was also announced as XGS's new chief procurement officer.

The hires come shortly after XGS announced Richard Chong as its new chief financial officer in May.

Chong joins XGS from Houston-based power producer Calpine, where he most recently was vice president of finance. His work there included leading $2.25 billion in financing for Geysers, the world’s largest geothermal power complex.

Chong says XGS’ proven technology and the rising demand for clean power will help the company execute on its multi-gigawatt pipeline.

“I look forward to applying the experience I’ve built over two decades in energy finance to help XGS deliver clean, reliable power to customers and unlock the massive development opportunity ahead for next-generation geothermal,” Chong said in the release.

XGS’ first project is a 150-megawatt geothermal facility in New Mexico. It will supply around-the-clock electricity to the grid operated by Public Service Co. of New Mexico in support of Meta data centers.

XGS recently tapped Houston-based energy technology company Baker Hughes to provide engineering services for the New Mexico project.

XGS’ geothermal system uses thermally conductive materials to deliver affordable energy anywhere hot rock exists — without the need for water resources or specific geological conditions. This results in lower-risk projects, more site options, easier permitting and faster deployment.

Since 2023, XGS has raised nearly $57 million in venture capital.

XGS launched in 2008 in Palo Alto, California, as Geothermic Solution. In conjunction with its Series A round in 2023, the company rebranded to its current name. The company recently moved its headquarters to Houston, according to the Houston Business Journal.

Woodlands-based Lancium teams up on West Texas data center campus

coming soon

The Woodlands-based Lancium Technologies, which designs, develops, and manages gigawatt-scale data center campuses, has teamed up with Denver-based data center builder and operator Crusoe Energy Systems on a new grid-connected campus more than 100 miles east of Wichita Falls.

Construction on the 1-gigawatt Childress County campus, being built for an unidentified tech company, is expected to start in Q3 of this year.

Lancium owns the 270-acre site where the data center campus will be located and will set up and manage the campus’ energy infrastructure. Crusoe will design, build, and operate the campus.

The two companies already are working together on data centers in Abilene. Their first data center has already expanded to a capacity of 1.2 gigawatts, and a 900-megawatt data center is planned for adjacent land owned by Lancium.

The Abilene project is the first site of the Stargate initiative, an AI infrastructure program backed by MGX, OpenAI, Oracle, and Softbank to create a U.S. network of hyperscale AI data centers. The four-year initiative has earmarked $500 billion to build the network.

“Childress is a natural next step in our partnership with Crusoe,” Lancium CEO Michael McNamara said in a news release. “Crusoe has been a great partner to build alongside in Abilene, and we’re glad to bring that same model — and the jobs and investment that come with it — to the community of Childress. We are deeply committed to working with local stakeholders to advance a model of development that addresses the broader needs of the community we will share for a very long time.”

Last year, Lancium appeared at No. 43 on Time and Statista’s list of America’s top greentech companies.

Lancium has raised $1.25 billion in funding since its founding in 2017, according to PitchBook and CB Insights.

In 2021, Lancium closed $150 million in funding led by Hanwha Solutions, with participation from SBI Holdings, Novawulf and other investors. Four years later, the company arranged $600 million in debt financing to advance development of “clean” data center campuses.

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