Highland Electric Fleets in connection with its $50 million credit facility with the Canada Infrastructure Bank.

On May 8, 2024, Canada Infrastructure Bank (CIB) announced that it has reached a financial close on a loan facility with Highland Electric Fleets (Canada) ULC worth up to $50 million to help finance the supply of Zero Emission Buses to school boards across Canada. Highland Electric Fleets intends to utilize the loan facility provided by the CIB to grow its operations within Canada. The company’s pioneering turnkey model will facilitate the leasing of electric school buses to entities responsible for student transportation, such as school boards and transportation providers. This initiative is aimed at substituting older diesel-powered buses with more environmentally friendly electric alternatives.

Highland Electric Fleets is a leader in providing zero emission buses in the US and is expanding into the Canadian market. They are a leading provider of Electrification-as-a-Service (EaaS) for school districts, governments, and fleet operators.

Osler acted for Highland Electric Fleets in connection with the financing under the CIB’s zero emission transit program with a team consisting of Jake Sadikman (Energy), Marta Rochkin and Lucas Colantoni (Financial Services).