Highland Electric Fleets Raises $150 Million Equity Round to Speed Up National Expansion

Image Credits: Highland Canada

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.