Highland Electric Fleets Secures $150 Million Equity Investment from Aiga Capital Partners to Accelerate National Expansion

New funding adds capacity for growth and supports major deployments planned for 2026

BEVERLY, Mass., Dec. 10, 2025 /PRNewswire/ -- Highland Electric Fleets announced today that it has secured up to $150 million in new equity financing from Aiga Capital Partners, adding capacity to support growth and building on an already strong balance sheet. The investment will help Highland expand into new markets and support additional deployments beginning in 2026.

The company's model is anchored by long-term, government-backed contracts that provide stable, predictable revenue and support the development of high-quality assets across its portfolio. This foundation, combined with Highland's Electrification-as-a-Service (EaaS) model — which manages financing and incentives, site work, vehicle and charger procurement, utility coordination, training, and ongoing support — underpins the company's strong track record. It also supports Highland's ability to raise new equity and unlock additional debt capacity as it scales.

Highland currently operates in over 30 states, supporting cities and school districts of all sizes in communities from Compton, California to Canutillo, Texas to Jackson, Michigan to Dixie County, Florida. Its electric buses have collectively traveled more than 7 million miles. Highland is preparing for a major expansion of deployments in 2026, supported by larger district rollouts, multi-site projects, and new charging hubs coming online. Across its footprint, districts are moving into the next phases of their electrification plans, and Highland is positioned to support more complex deployments with reliable infrastructure, financing, and long-term operations. The investment also supports Highland's entry into new markets launching in 2026, where demand for dependable electrification partners continues to grow.

Highland recently announced that it will supply 500 electric school buses as the Official Electric School Bus Provider for the LA28 Olympic and Paralympic Games and Team USA, supporting transportation operations throughout the Games. In parallel, Highland is expanding its broader Southern California presence with new depot and charging infrastructure across Los Angeles County, strengthening its long-term footprint in the region.

Aiga Capital Partners, which specializes in long-lived, essential infrastructure, invests in platforms that provide reliable services and durable community value. Its investment in Highland reflects confidence in the company's operating capabilities, the performance of its assets, and its track record for long-term national growth. Aiga's approach centers on supporting teams with proven business models that can execute and scale responsibly.

As part of the investment, Angel Fierro, Managing Partner of Aiga Capital Partners, will join Highland's Board of Directors. "At Aiga, we back platforms that can scale essential infrastructure with consistency and discipline," said Fierro. "Highland's Electrification-as-a-Service model, supported by long-term contracts and a high-quality asset base, positions the company to lead the next chapter of fleet electrification, and we are excited to support their continued growth."

Highland's balance sheet is further supported by multiple forms of capital raised over the past three years, including approximately $200 million in construction debt and tax advantaged financing from long-term partners, along with revenue from district customers.

Highland CEO Duncan McIntyre said the investment supports the company's long-term vision. "This investment strengthens our balance sheet and allows us to execute on large-scale, long-term contracts with our school district and municipal partners. With Aiga's support, we are well-capitalized to deploy the reliable infrastructure our customers need while maintaining the financial discipline our funding partners expect."

Rothschild & Co served as Highland's exclusive financial advisor, and Latham & Watkins served as its legal advisor. Aiga was advised by McDermott Will & Schulte.

About Aiga Capital Partners

Aiga is a minority-owned investment platform supporting the energy transition with structured debt and equity solutions for developers of sustainable assets in North America. In an effort to contribute towards net zero emission goals, its strategy targets capital deployment opportunities in power (renewable energy, battery energy storage, energy efficiency), transportation (electric vehicle infrastructure), and low carbon fuels and chemicals.

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.

Media Contacts

Highland Electric Fleets

Chris Orlando 
[email protected]
508-468-9802

SOURCE Highland Electric Fleets