Highland Electric Fleets

Highland Electric Fleets

Electrifies school bus fleets with subscription

About Highland Electric Fleets

Simplify's Rating
Why Highland Electric Fleets is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Automotive & Transportation

Consulting

Energy

Enterprise Software

Company Size

51-200

Company Stage

Growth Equity (Venture Capital)

Total Funding

$403M

Headquarters

Beverly, Massachusetts

Founded

2018

Overview

Highland Electric Fleets helps school districts switch their buses from diesel to electric. It provides a full-service package to electrify school bus fleets, including project planning, budgeting, buying electric buses, upgrading depots for charging, and staff training. Instead of paying upfront, districts subscribe and pay based on the miles their buses drive, with the subscription covering buses, charging equipment, depot improvements, maintenance training, and ongoing support. This makes the complex process of fleet electrification more affordable and straightforward for schools. The company differentiates itself by offering an end-to-end, all-inclusive, pay-per-mile model that reduces capital costs and administrative burden compared with traditional procurement. Its goal is to help schools run emissions-free transportation by making it easier and cheaper to convert to electric fleets.

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Simplify's Take

What believers are saying

  • Aiga Capital Partners' $150 million equity round fuels 2026 national expansion across 30+ states.
  • Canada Infrastructure Bank's $50 million loan enables hundreds of leased electric buses, saving 5,500 tonnes emissions yearly.
  • 1,000+ vehicles under contract and 7 million miles logged prove scalable operations in urban and rural areas.

What critics are saying

  • Aiga's $150 million equity dilutes shareholders and strains cash flows amid $200 million prior debt in 2026.
  • Federal EPA Clean School Bus rebates cuts halt projects like Johnstown's $3.45 million funding within 12 months.
  • Blue Bird Corporation captures districts with direct sales, eroding Highland's 1,000+ vehicle contracts by 2027.
  • LA28 contract's 500 buses expose Highland to reimbursements from event delays, bankrupting firm by 2028.

What makes Highland Electric Fleets unique

  • Highland delivers end-to-end Electrification-as-a-Service, handling planning, procurement, installation, and operations.
  • Highland manages North America's largest electric school bus deployment via Montgomery County Public Schools contract.
  • Highland pioneers vehicle-to-grid technology and serves as LA28 Olympic Games' official electric school bus provider.

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Funding

Total Funding

$403M

Above

Industry Average

Funded Over

2 Rounds

Growth Equity VC funding comparison data is currently unavailable. We're working to provide this information soon!
Growth Equity VC Funding Comparison
Coming Soon

Benefits

Health Insurance

Vision Insurance

Dental Insurance

Life Insurance

Paid Vacation

401(k) Retirement Plan

401(k) Company Match

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

5%

2 year growth

9%
Belmont Public Schools
Mar 5th, 2026
Belmont Public Schools adds electric buses to transportation fleet for 2026-2027 school year.

Belmont Public Schools adds electric buses to transportation fleet for 2026-2027 school year. Belmont Public Schools March 5, 2026 Belmont Public Schools has partnered with Highland Fleets to secure a $1.8 million grant to support the electrification of the district's transportation services. Through a 10-year agreement, Highland Fleets will use the granting funds to acquire electric school buses and install the necessary charging infrastructure to serve the Belmont fleet. The transition will begin with at least three electric buses in service by September 2026, with the long-term goal of converting the entire fleet to electric vehicles over the course of the contract, pending additional grant funding. Day-to-day transportation operations will be managed by Doherty's Garage, a long-established school transportation provider. The adoption of electric buses reflects the School Committee's policy commitment to responsible environmental stewardship and directly supports the Town of Belmont's Climate Action Plan (2009) and Climate Action Roadmap (2019). Both documents demonstrate Belmont's long-standing dedication to the sustainable use of energy, water, and other natural resources, a commitment that is formally referenced in School Committee Policy ECF. By transitioning to electric school buses, the district is advancing these established climate goals and taking meaningful action to reduce emissions, promote cleaner air, and model sustainability for students and the broader community. "The Belmont School Committee supports the district's work to introduce electric school buses," said Meg Moriarty, Chair of the Belmont School Committee. "This initiative aligns with our Sustainable Use of Resources policy and the Town's Climate Action goals, while supporting a cleaner, healthier transportation system for students and responsible long-term stewardship of district resources. I want to recognize the work of district leadership, who began exploring this opportunity more than three years ago, and the valuable collaboration and input from Belmont's Energy Committee throughout the process." This initiative was made possible through both a state contract as well as competitive pricing supported by grant funding, making the cost to the district comparable to a traditional diesel fleet. By partnering with Highland Fleets, a company specializing in school bus electrification, Belmont gains expert support in vehicle procurement, site development, and charging infrastructure, with start-up and operational logistics fully managed by the company. In collaboration with an established transportation provider, the district can modernize its fleet while continuing to deliver safe, reliable, and efficient daily service for students and families. Launching this EV initiative marks an important step in Belmont Public Schools' commitment to sustainability and student health. By adding electric buses, the district is reducing emissions, supporting Belmont's climate goals, and providing cleaner, reliable transportation for students.

AllBlogThings
Dec 10th, 2025
Highland Electric Fleets Raises $150 Million Equity Round to Speed Up National Expansion

Highland Electric Fleets raises $150 million equity round to speed up national expansion. Highland Electric Fleets revealed today that it has secured up to $150 million in new equity financing from Aiga Capital Partners, enabling the company to support growth plans and prepare for expanded deployments beginning in 2026. Highland's business model is built on long-term, government-backed contracts that deliver stable revenue while facilitating high-quality asset development across its portfolio. Through its Electrification-as-a-Service (EaaS) model, the firm handles financing and incentives, site work, procurement of vehicles and chargers, utility coordination, training, and ongoing support. This end-to-end approach underpins its track record and ability to draw fresh equity and unlock additional debt capacity as it scales. The company currently operates in more than 30 states, serving a diverse range of communities from Compton, California to Dixie County, Florida. Its electric buses have logged more than 7 million miles in total. Highland is gearing up for a major rollout in 2026 that will include larger district deployments, multi-site projects, and new charging hubs. The funding also supports Highland's planned entry into new markets next year, meeting growing demand for reliable electrification partners. As part of the investment agreement, Aiga's managing partner will join Highland's board. "At Aiga, we back platforms that can scale essential infrastructure with consistency and discipline," said Angel Fierro, Managing Partner of Aiga Capital Partners. The company's confidence reflects its assessment of Highland's operating capabilities, asset quality, and growth potential. The financing comes at a time when other districts are ramping up their own electric-bus efforts. For example, Ann Arbor Public Schools recently announced plans to gradually electrify its entire 131-bus fleet, aiming for full electrification by 2035. Highland's recent high-profile win as the official electric school bus provider for the LA28 Olympic and Paralympic Games, tasked with supplying 500 zero-emission buses and associated charging infrastructure for the event, illustrates how the company is positioning itself as a major national player.

Gulf & Main Magazine
Dec 10th, 2025
Highland Electric Fleets raises $150M from Aiga Capital to expand electric bus operations

Highland Electric Fleets has secured up to $150 million in equity financing from Aiga Capital Partners to support national expansion and deployments beginning in 2026. The investment strengthens the balance sheet of the Electrification-as-a-Service provider, which operates in over 30 US states. The company's electric buses have travelled more than 7 million miles collectively. Highland recently announced it will supply 500 electric school buses as the Official Electric School Bus Provider for the LA28 Olympic and Paralympic Games. Angel Fierro, managing partner of Aiga Capital Partners, will join Highland's board of directors. The company has raised approximately $200 million in construction debt and tax-advantaged financing over the past three years, alongside this new equity investment.

PR Newswire
Dec 10th, 2025
Highland Electric Fleets Secures $150 Million Equity Investment from Aiga Capital Partners to Accelerate National Expansion

/PRNewswire/ -- Highland Electric Fleets announced today that it has secured up to $150 million in new equity financing from Aiga Capital Partners, adding...

Hingham Anchor
Oct 16th, 2025
First electric school bus project celebration planned for Oct. 17

First electric school bus project celebration planned for Oct. 17. Hingham Public Schools, in partnership with Highland Electric Fleets, will host a ceremony to celebrate the district's first electric school bus project Friday, Oct. 17, at 10 a.m. at 25 Fort Hill St. The estimated cost savings from the transition from three diesel buses to three electric ones is estimated at between $10,000 - $20,000 each year. The electric buses will deliver cleaner, quieter rides for students. The Fort Hill location is where HPS's transportation office is located and includes school bus services. This project is supported by a combined $1.1 million in funding from the Massachusetts Clean Energy Center's Accelerating Clean Transportation Program and the Environmental Protection Agency's Clean School Bus Program. The new fleet will begin service in February 2026. "We are thrilled to be moving forward with this important first step in the electrification of the HPS bus fleet," Supt. of Schools Katie Roberts told the Hingham Anchor. "This project is very much aligned with the mission of the Town of Hingham's Climate Action Plan, and we appreciate the support of our community partners in bringing this project to fruition."

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