Fleet solution provider Highland Electric Transportation raises $253 million in new funding

Highland Electric Transportation, a provider of turnkey fleet solutions to school districts and fleet managers, has raised $253 million in a financing round led by Vision Ridge Partners.

Highland provides its fleet customers with a full-service solution—it owns and maintains the vehicles under an all-inclusive transportation-as-a-service model. The Massachusetts-based company owns and operates EVs manufactured by Thomas Built Buses and powered by Proterra.

In addition to school buses, Highland plans to expand its reach to the government fleet market. The company is currently working on projects to electrify thousands of medium-duty vehicles in government fleets.

“My partners and I believe millions of fleet vehicles will electrify,” said Chris Cheever of Fontinalis Partners, which participated in the funding round. “Highland is well positioned to help customers make it happen and our firm is excited to help the company become a leader in its industry.”

“Our goal is to use this capital to build the largest electric fleet company that delivers economic and environmental value to our customers and society,” said Highland founder and CEO Duncan McIntyre. “We are blessed with great customers and a growing team that includes outstanding investors and company builders.”

Source: Highland Electric Transportation