In a large pot, warm the olive oil over medium heat. Add the chopped onion and stir for about 5 minutes, until soft. Then add the garlic and cook for 1 more minute.
To the pot, add the molasses, brown sugar, ketchup, salt, apple cider vinegar, vegan Worcestershire sauce and Sriracha hot sauce. Stir well, then add the drained and rinsed beans.
Transfer to a large casserole dish (I used a 9 x 13 inch dish) and cover with foil. Bake for 1 hour. The sauce should thicken a bit.
Keep warm until ready to serve.
If you like your baked beans less sweet, omit or reduce the brown sugar, and use canned tomato sauce in place of the ketchup.
Baked beans will keep in the refrigerator for 4-5 days, and can also be frozen.
Instant Pot- You can use an Instant Pot for this recipe, and it was originally posted as an Instant Pot recipe. However, some people have trouble with the last part, adding the sauce the the Instant Pot and getting a burn message. Here is how to make them in the Instant Pot: Add 1 lb of dried navy beans and 6 cups of water to Instant Pot. Put the lid on, close the steam valve and set to the bean setting for 25 minutes. Do a natural release, then drain the beans. Whisk the sauce ingredients in a bowl (not the onions/garlic). Using the saute setting, saute the onion and garlic in the olive oil. Turn off the saute, add the sauce and beans. Stir, then cook at high pressure for 15 minutes. Do a natural release.