Highland Electric Fleets Secures $75 Million Funding from Galvanize
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Highland Electric Fleets, a Massachusetts-based provider of fleet electrification services, has secured $75 million in funding from Galvanize. The latest investment brings the company's total preferred equity commitments to $150 million.
Funding to Support Electric Fleet Expansion
The company plans to use the capital to accelerate the deployment of electric school buses and charging infrastructure across the United States. In addition, Highland aims to expand its presence in key markets and support a broader range of municipal fleet and energy-related projects.
The funding was structured to support the company's ongoing rollout of electric transportation solutions and infrastructure as demand for fleet electrification continues to grow.
Highland's Electrification-as-a-Service Model
Founded by Duncan McIntyre, Highland Electric Fleets offers an Electrification-as-a-Service (EaaS) model that helps school districts, municipalities, and fleet operators transition from diesel-powered vehicles to electric fleets. The company provides vehicles, charging infrastructure, software tools, and operational support through long-term service agreements.
Its approach is designed to simplify fleet electrification while helping customers manage costs over time. The long-term contracts also provide recurring revenue for the company.
Focus on School Transportation
A significant portion of Highland's business focuses on electric school buses. The company says replacing diesel-powered buses can help reduce vehicle emissions and improve air quality in local communities.
Beyond transportation, the company has also expanded its capabilities in charging infrastructure and energy management solutions. As a result, it is positioning itself to support a wider range of public-sector electrification projects.
Company Overview
Founded in 2019, Highland Electric Fleets is headquartered in Beverly, Massachusetts. The company works with school districts, municipalities, and fleet operators across North America to support the transition to electric transportation through its service-based electrification model.
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