On March 26, 2024, Highland Electric Fleets (Canada) ULC reached financial close on a loan facility worth up to $50 million with the Canada Infrastructure Bank (CIB). The facility, which falls under the CIB’s Zero Emission Transit Fund, is designed to support the supply of electric school buses to school boards across Canada.]
The funding will allow Highland Electric Fleets, a leader in zero-emission student transportation in the United States, to expand into the Canadian market, scaling up operations and infrastructure to help school boards transition to electric fleets. This financing aligns with the CIB’s mission to support sustainable infrastructure and further electrification of Canada’s public transportation systems.
Osler, Hoskin & Harcourt LLP acted for Highland Electric Fleets with a legal team consisting of Marta Rochkin, Jake Sadikman and Lucas Colantoni. Canada Infrastructure Bank was advised by Davies Ward Phillips & Vineberg LLP, with a team that included Lynn Parsons, Samantha Cunliffe, Liezl Behm and Zachary Kroll, who also recently represented the CIB in other major clean energy infrastructure deals.
