Highland Electric Fleets Announces an Additional $75 Million Preferred Equity Commitment from Galvanize

Commitment from Galvanize supports continued and growing deployment of electric school buses and infrastructure nationwide

BEVERLY, Mass., June 2, 2026 /PRNewswire/ -- Highland Electric Fleets today announced the closing of a $75 million preferred equity commitment from Galvanize and affiliates ("Galvanize"), bringing total preferred equity commitments to $150 million. The capital raise was structured in stages to align with Highland's deployment timelines and continued national expansion of electric school bus fleets and charging infrastructure, alongside the prior preferred equity commitment from Aiga Capital Partners ("Aiga").

Highland's Electrification-as-a-Service (EaaS) model simplifies the transition from diesel to electric fleets for municipalities, school districts, and fleet operators through its full-service and cost-effective offerings. Highland provides vehicles, charging infrastructure, software solutions, and ongoing operational support under long-term service agreements. These contracts align costs with traditional fuel options while creating stable, recurring revenue for the company. In addition, electrifying school buses reduces harmful tailpipe emissions, improving air quality, and delivering meaningful environmental and public health benefits for communities and children.

Highland will primarily use the capital to accelerate the deployment of electric school buses and charging infrastructure, expand operations in key markets, and broaden its capabilities across additional municipal fleet and energy applications. In addition to expanding the asset portfolio, the company will invest in advancing projects that integrate charging infrastructure with on-site energy resources for its customers. Highland will also manage transportation operations as the selected Official Electric School Bus Provider of the LA28 Olympic and Paralympic Games.

"This capital structure is designed to support long-term, asset-backed deployments at scale," said Duncan McIntyre, CEO of Highland Electric Fleets. "From Florida to Michigan to California, we are seeing a clear shift toward solutions that can be deployed reliably across very different operating environments, from school districts to municipal and other fleet operators. Our focus is on execution: putting vehicles, infrastructure, and energy solutions into service in a way that works every day."

"We believe Highland is well-positioned for growth with an experienced management team and a leading, differentiated platform backed by long-term contracts and a high-quality portfolio of electric school buses and energy infrastructure." said Meghan Pasricha, a Partner at Galvanize's Credit and Capital Solutions strategy. "We are excited to invest in Highland as they rapidly scale to modernize aging fleets and meet rising electrification demands."

Pasricha's team expects to deploy up to $1.8 billion within three years across sectors with growing demand and capital needs including power, manufacturing, energy efficiency, and resilience by providing flexible capital solutions.

Across its deployments, Highland's electric school buses have traveled more than 10 million miles, demonstrating consistent performance and reinforcing the viability of large-scale fleet electrification.

About Highland Electric Fleets

Highland Electric Fleets is North America's leading provider of Electrification-as-a-Service. Founded in 2019, Highland partners with school districts, municipalities, and fleet operators to make the transition to electric fleets simple and affordable. Highland proudly serves as the Official Electric School Bus Provider of the LA28 Olympic and Paralympic Games and Team USA. From pioneering vehicle-to-grid technology to managing some of the nation's largest electric school bus fleets, Highland delivers reliable, cost-effective solutions that support local communities and drive the future of transportation. Learn more at www.highlandfleets.com.

About Galvanize

Galvanize is a global asset manager investing at the intersection of energy innovation, resilience, and intelligence. The firm deploys capital across seed, venture, growth, public equities, credit, and real estate, combining investment expertise with deep in-house capabilities in technology, policy, and markets. Galvanize is structured to rapidly identify and execute on investment opportunities created by the energy transition, across all sectors of the economy.

Media Contacts

Chris Orlando
Highland Electric Fleets
[email protected]

SOURCE Highland Electric Fleets