Fleet answer supplier Highland Electrical Transportation raises $253 million in new funding

Highland Electrical Transportation, a supplier of turnkey fleet options to highschool districts and fleet managers, has raised $253 million in a financing spherical led by Imaginative and prescient Ridge Companions.

Highland gives its fleet clients with a full-service answer—it owns and maintains the automobiles underneath an all-inclusive transportation-as-a-service mannequin. The Massachusetts-based firm owns and operates EVs manufactured by Thomas Constructed Buses and powered by Proterra.

Along with faculty buses, Highland plans to develop its attain to the federal government fleet market. The corporate is presently engaged on tasks to impress 1000’s of medium-duty automobiles in authorities fleets.

“My companions and I consider tens of millions of fleet automobiles will electrify,” mentioned Chris Cheever of Fontinalis Companions, which participated within the funding spherical. “Highland is nicely positioned to assist clients make it occur and our agency is worked up to assist the corporate turn out to be a frontrunner in its trade.”

“Our objective is to make use of this capital to construct the most important electrical fleet firm that delivers financial and environmental worth to our clients and society,” mentioned Highland founder and CEO Duncan McIntyre. “We’re blessed with nice clients and a rising crew that features excellent buyers and firm builders.”

Supply: Highland Electric Transportation