The University of Alaska annually gives this award to an outstanding graduating senior or graduate student from the Fairbanks, Anchorage, Southeast (Juneau), or UAA-Matsu campus who has mastered and used computer-based molecular modeling methods during his or her student career. The award is accompanied by a framed certificate and a copy of the full version of HyperChem molecular modeling software with a retail value of $995. The software is generously donated each year by Neil Ostlund, founder and CEO of Hypercube, Inc. Recipients continue in their post-graduate years to careers as chemistry or biochemistry researchers, or science teachers, where the availability of a personal copy of HyperChem will contribute to their professional success.

Hypercube, Inc. originally supplied the network version of HyperChem to the chemistry departments at Fairbanks, Anchorage, Southeast, and UAA-Matsu College as part of a National Science Foundation-funded project to introduce molecular modeling methods to students and teachers at these campuses. The project, "Enhancing Chemistry Curricula Through Molecular Modeling: A Multi-Campus Consortium Approach", was submitted by John Keller (UAF, PI), John Kennish (UAA), Michael Stekoll (UAS), and Rudolph Candler (UAA-Matsu) with funding from 2000-2004.