Molasses can be a very useful ingredient for making actively aerated compost tea if used carefully. It is relatively easy to handle, dissolves in water quickly and is inexpensive when compared to other substrates.
In lower concentrations, it is considered to be an excellent bacterial food resource which increases activity and biomass. At higher concentrations, many consider molasses to be a fungal food resource which can increase spore germination and hyphae elongation.
Always make sure your molasses is unsulfured. After all, sulfur is a very widely used fungicide and will harm your biology.