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University of Houston scores massive $50 million gift from anonymous donor

The University of Houston is $50 million richer thanks to an anonymous donor. Photo courtesy of University of Houston

On the heels of its $1 billion fundraising campaign and a first look at its new medical school, the University of Houston announced the single largest gift in its history.

The $50 million donation was donated anonymously. The donor is said to be a CEO and a veteran with a history of giving back.

The gift challenges the university to raise $50 million to match it. It will be used for endowed professorships, specifically aimed at attracting top teaching talent to the university.

Chancellor Renu Khator called the gift transformational, and said it will allow the university to become globally competitive by attracting outstanding faculty.

The billion-dollar fundraising campaign will be concentrated in energy, medicine, and global engagement programs.

UH Regent Tillman Fertitta said he met the mystery donor.

"He's smart to remain anonymous," Fertitta said. "He can walk out of the door without strangers saying they have a project for him to consider."

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Building Houston

 
 

Molecule has closed new funding in order to focus on the energy transition. Photo via Getty Images

A Houston startup with a software-as-a-service platform for the energy transition has announced it closed a funding round with participation from a local venture capital.

Molecule closed its $12 million series A, and Houston-based Mercury Fund was among the company's investors. The company has a cloud-based energy trading and risk management solution for the energy industry and supports power, natural gas, crude/refined products, chemicals, agricultural commodities, softs, metals, cryptocurrencies, and more.

"We led the seed round of Molecule upon their formation and are excited to participate in their series A," says Blair Garrou, co-founder and managing director of Mercury, in a news release. "Molecule's success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s."

The company will use its new funds to further build out its product as well as introduce offerings to manage renewables credits, according to the release.

"In 2020, we realized that electricity — the growth commodity of the 2020s — represented over half of Molecule's customer base, and we decided to double down," says Sameer Soleja, founder and CEO of Molecule, in the release. "We were also rated the No. 1 SaaS ETRM/CTRM vendor. With this fundraise, we have the fuel to become No. 1 SaaS platform for power and renewables, and then the market leader overall.

"Molecule is ready to power the energy transition," Soleja continues.

Molecule's last round of funding closed in November 2014. The $1.1 million seed round was supported by Mercury Fund and the Houston Angel Network.

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