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Electric school buses don’t just eliminate the carbon and pollution emissions of their diesel-fueled counterparts; they also cost less to fuel and maintain over the long haul. Unfortunately for cash-strapped school districts, the upfront cost to purchase an electric school bus is still more than twice as much as the cost of a diesel bus today. And that’s not counting the cost of new charging infrastructure or the risk that those charging costs may drive a district’s electric bills through the roof. Highland Electric Transportation says it can remove those barriers for school districts and transit authorities by taking on the financing and management of an EV school bus fleet in exchange for a fixed annual leasing fee. In the past week, the Hamilton, Mass.-based startup has won two votes of confidence in its business model. ....
Highland Electric Transportation raises $253M to accelerate electrification of school fleets Highland Electric Transportation, a provider of turnkey fleet solutions delivering the latest in zero-emission technologies to school districts and fleet managers, has raised $253 million to accelerate its growth. The financing was led by Vision Ridge Partners with participation by Fontinalis Partners and existing investors. Highland reduces the complexity of going electric by providing customers a full-service solution of electric vehicles that are owned, powered, and maintained by the company. This all-inclusive transportation-as-a-service model is the simple and cost-effective way for districts to transition their fleets. With technology solutions allowing vehicles to optimally charge and provide grid services, Highland is helping customers improve energy efficiency and resiliency. ....
Highland Electric Transportation, a provider of turnkey electric bus solutions for school districts and fleet managers, has raised $253 million of ....
EVgo, which owns one of the United States’ biggest electric vehicle charging networks, is following in the footsteps of rival EV charging provider ChargePoint in seeking to become a publicly traded company via a special-purpose acquisition company (SPAC) reverse merger. In EVgo’s case, its move to public markets will come along with a continuing financial relationship with its current owner: LS Power, one of the country’s biggest power generation, transmission and energy storage investors. Under the terms of the deal announced Friday, EVgo will merge with Climate Change Crisis Real Impact I Acquisition Corp. (CRIS) in a transaction that will raise about $575 million, and value the company at about $2.6 billion. ....