DALLAS — Sugar trader Verax Commodities LLC, business consultancy Bizos Cavallo Enterprises LLC and private equity firm Vera Ventures have formed a coalition to boost the US domestic sugar supply.

Under the partnership, announced May 14, the companies plan to invest almost $1 billion in the domestic sugar supply chain over the next five years, an initiative they described as “one of the largest capital infusions in the sector’s history.” The coalition said the investment comes after recent mill closings and a “notable decline” in sugar farming operations across Texas and Montana.

Together, Verax, Bizos Cavallo and Vera aim to expand US sugar refining and farming capacity by about 350,000 tonnes per year.

“Our commitment goes beyond business; it’s about revitalizing communities and preserving the legacy of American sugar farmers who have faced severe setbacks,” said Mario Tobon, chief executive officer of Verax Commodities. “We are extremely proud to be a part of this well-capitalized partnership. We’re integrating groundbreaking agricultural science and economic innovation to create lasting prosperity.”

Based in Shenandoah, Texas, Verax entered the North American sugar market last year. The sugar sourcing, trading and supply chain management firm focuses on the North Carolina and Texas sugar markets.

A linchpin of the coalition is Bizos Cavallo’s joint venture with the patent holders of pioneering water-cleaning technology that enables nearly 100% wastewater purification and converts waste into viable energy sources, the companies said. Developed over four decades, the technology provides a cost-effective, environmentally efficient solution that addresses the critical water shortages behind the recent closings of mills in South Texas, they noted.

“Our families have deep roots in sugar farming, making this mission profoundly personal,” said Elvin Thibodeaux, founder and managing partner of Bizos Cavallo, a Dallas-based advisory firm serving the agricultural, biosciences and environmental markets. “We have engaged directly with Texas Agriculture Commissioner Sid Miller, Governor (Greg) Abbott’s office and North Carolina Agriculture Commissioner Steve Troxler. We are thoroughly assessing opportunities to provide a sustainable future for local farmers and the broader sugar industry.”

The coalition is aimed at “reviving and significantly expanding” the US sugar industry by supporting “devastated local farmers” and driving “substantial growth” in the American sugar market, the partner companies said.