{"success":true,"data":{"pressRelease":{"id":"27736","rtpr_id":"nGNXLcGJz","ticker":"YMAT","exchange":"NASDAQ","all_tickers":["YMAT"],"title":"J-Star Holding Signs MOU with White Group to Advance Financing for Texas Solid-State Battery Facility","author":"Globe Newswire","published_at":"2026-05-08T13:00:00.787Z","article_body":"TAICHUNG CITY, Taiwan, May 08, 2026 (GLOBE NEWSWIRE) -- J-Star Holding Co.,\nLtd. (Nasdaq: YMAT) (“J-Star” or the “Company”), today announced that\nit has signed a non-binding memorandum of understanding (“MOU”) with White\nGroup Ptd., Ltd. (“White Group”), a Singapore-based investment and\ndevelopment firm, to support capital formation for the Company’s planned\nautomated solid-state battery production facility in Baytown, Texas.\n\nThe financing initiative builds upon J-Star’s previously announced strategic\npartnership\n(https://www.globenewswire.com/Tracker?data=_0m4zcGSE2HjNkz6yShs5KPz_jQGTiNt-oj7zCfFyrAAAJBcnpskgfplH_hlENKRoDJKzvLeZ9lNnCIG6Ki5ne_v8DSqAjDSCJzleUbtam_Dt_pV4oL7hvzpfs_YXNK43iDgwztofLYIDbO8TyF2OjLvpMYXortNam3fteZ9hlhzBuLuMvDZPFnDAuZ0elEbtl0MoWI8SEZiAOhE8CwifeyxU8sZNBrXjLOK2c1G6hbUxGIrQEEatbbJu9led281bhO1vxkA7D-DOuLqEAHIrwN6Yy1aTx9uph7uKaXIN444gUVZPz7uUdSkb1_E3w_C2PmtnEHFshxXPxdlvpwyKw==)\nwith Patriot Green Energy Technology Co., Ltd. (“PSSB”) to develop\nMade-in-USA polymer-based solid-state battery solutions and establish a 100\nmegawatt-hour (MWh) modular production line targeting the rapidly growing\nunmanned aerial vehicle (UAV) and drone markets.\n\nUnder the MOU, White Group will work with J-Star to identify and introduce\npotential U.S.-based private equity partners to participate in a proposed $100\nmillion investment to support construction, automation and technical\ndevelopment of the Baytown facility. The investment is expected to complement\nJ-Star and PSSB’s previously submitted U.S. Department of Energy grant\napplication for the project.\n\nAdvancing the Baytown Solid-State Battery Initiative\n\nThe proposed capital raise represents the next phase of J-Star’s Baytown\nproject, which already includes:\n* A strategic partnership with PSSB, a developer of next-generation\nsolid-state battery technology backed by Taiwan’s Industrial Technology\nResearch Institute (ITRI)\n* A jointly submitted U.S. Department of Energy grant application\n* A commitment from the Baytown Economic Development Foundation securing a\nsite in the TGS Cedar Port Industrial Park\n* Plans to establish a fully automated U.S. production line designed to supply\nhigh-density batteries for aerospace, defense and dual-use drone applications\nProceeds from the expected financing are expected to support:\n* Completion of the 100 MWh automated solid-state battery production line\ntargeting drone and advanced mobility applications\n* Procurement of customized automated manufacturing systems\n* Technology transfer, workforce training and infrastructure development\n* Technical milestones required for federal funding and customer qualification\nJonathan Chiang, CEO and Chairman of J-Star Holding, commented, “This\nagreement with White Group represents an important step in advancing the\nfinancing strategy for our Baytown, Texas facility. Following our partnership\nwith PSSB, our Department of Energy grant application, and the securing of our\nBaytown site, we are now focused on building the capital structure required to\nbring this project into execution. We believe the combination of Taiwanese\nbattery innovation and U.S. manufacturing will help establish a secure\ndomestic supply chain for next-generation energy storage solutions serving the\nrapidly expanding aerospace and defense drone markets.”\n\nAbout White Group\nWhite Group Pte. Ltd. is a Singapore-based, boutique investment and\ndevelopment firm founded in 2005. The firm focuses on real estate, technology,\nand healthcare investments across Asia and seeks to create long-term value for\nits partners. Visit whitegroup.com.sg\n(https://www.globenewswire.com/Tracker?data=xUt1bKYjz-fLHyB7XPPwINdnDHdXlbyrlO149JIOIfsZoGlioQ_6s_iKHqkRHswJouMaQCCRgDTRURJLaTbCFMYbb35WZzazhxcRw369dco=)\nfor more information.\n\nAbout J-Star\nJ-Star Holding Co., Ltd. (NASDAQ: YMAT) is a holding company with operations\nconducted through subsidiaries in Taiwan, Hong Kong, and Samoa with its\nheadquarters in Taiwan. J-Star’s predecessor group was established in 1970,\nand has accumulated over 50 years of know-how in material composites industry.\nJ-Star develops and commercializes the technology on carbon reinforcement and\nresin systems. With decades of experience and knowledge in composites and\nmaterials, J-Star is able to apply its expertise and technology to design and\nmanufacture a great variety of lightweight, high-performance carbon composite\nproducts, ranging from key structural parts of electric bicycles and sports\nbicycles, rackets, automobile parts to healthcare products. Visit\nj-starholding.com\n(https://www.globenewswire.com/Tracker?data=kcJwIE7Q6IFDSAiRfXuIxFC78-xGDq4ysMvvACP7g7Zw04gDCErsa5m6U0dO3QPcGsizQOZjgv3DRtmaXNUheEUISqVxQBF2q2Bz-XxOyIY=) and\nymacorp.com\n(https://www.globenewswire.com/Tracker?data=QDloOxQ_Ao69vKSMQar6kbpFl5_XT11UMnTkgQVTEn7y2R9J3o5czwE72evfnHrOWqHmx2PRTK7HxU_R41uiGA==)\nto learn more.\n\nForward Looking-Statements\n\nCertain statements contained in this press release about future expectations,\nplans and prospects, as well as any other statements regarding matters that\nare not historical facts, may constitute “forward-looking statements”\nwithin the meaning of the Private Securities Litigation Reform Act of 1995.\nThese statements include, but are not limited to, statements relating to the\nexpected trading commencement and closing dates. The words “anticipate,”\n“believe,” “continue,” “could,” “estimate,” “expect,”\n“intend,” “may,” “plan,” “potential,” “predict,”\n“project,” “should,” “target,” “will,” “would” and similar\nexpressions are intended to identify forward-looking statements, although not\nall forward-looking statements contain these identifying words. Actual results\nmay differ materially from those indicated by such forward-looking statements\nas a result of various important factors, including: the uncertainties related\nto market conditions and other factors discussed in the “Risk Factors”\nsection of the final prospectus filed with the SEC. For these reasons, among\nothers, investors are cautioned not to place undue reliance upon any\nforward-looking statements in this press release. Any forward-looking\nstatements contained in this press release speak only as of the date hereof,\nand J-Star specifically disclaims any obligation to update any forward-looking\nstatement, whether as a result of new information, future events or otherwise,\nexcept as required by law.\n\nContact:\nMatt Chesler, CFA\nFNK IR\n646-809-2183\ninvestor@j-starholding.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/1a4c6faf-93be-4d28-a35f-1df9c4f0404e)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXLcGJz","title":"J-Star Holding Signs MOU with White Group to Advance Financing for Texas Solid-State Battery Facility","author":"Globe Newswire","ticker":"YMAT","created":"2026-05-08T13:00:00.787Z","tickers":["YMAT"],"exchange":"NASDAQ","article_body":"TAICHUNG CITY, Taiwan, May 08, 2026 (GLOBE NEWSWIRE) -- J-Star Holding Co.,\nLtd. (Nasdaq: YMAT) (“J-Star” or the “Company”), today announced that\nit has signed a non-binding memorandum of understanding (“MOU”) with White\nGroup Ptd., Ltd. (“White Group”), a Singapore-based investment and\ndevelopment firm, to support capital formation for the Company’s planned\nautomated solid-state battery production facility in Baytown, Texas.\n\nThe financing initiative builds upon J-Star’s previously announced strategic\npartnership\n(https://www.globenewswire.com/Tracker?data=_0m4zcGSE2HjNkz6yShs5KPz_jQGTiNt-oj7zCfFyrAAAJBcnpskgfplH_hlENKRoDJKzvLeZ9lNnCIG6Ki5ne_v8DSqAjDSCJzleUbtam_Dt_pV4oL7hvzpfs_YXNK43iDgwztofLYIDbO8TyF2OjLvpMYXortNam3fteZ9hlhzBuLuMvDZPFnDAuZ0elEbtl0MoWI8SEZiAOhE8CwifeyxU8sZNBrXjLOK2c1G6hbUxGIrQEEatbbJu9led281bhO1vxkA7D-DOuLqEAHIrwN6Yy1aTx9uph7uKaXIN444gUVZPz7uUdSkb1_E3w_C2PmtnEHFshxXPxdlvpwyKw==)\nwith Patriot Green Energy Technology Co., Ltd. (“PSSB”) to develop\nMade-in-USA polymer-based solid-state battery solutions and establish a 100\nmegawatt-hour (MWh) modular production line targeting the rapidly growing\nunmanned aerial vehicle (UAV) and drone markets.\n\nUnder the MOU, White Group will work with J-Star to identify and introduce\npotential U.S.-based private equity partners to participate in a proposed $100\nmillion investment to support construction, automation and technical\ndevelopment of the Baytown facility. The investment is expected to complement\nJ-Star and PSSB’s previously submitted U.S. Department of Energy grant\napplication for the project.\n\nAdvancing the Baytown Solid-State Battery Initiative\n\nThe proposed capital raise represents the next phase of J-Star’s Baytown\nproject, which already includes:\n* A strategic partnership with PSSB, a developer of next-generation\nsolid-state battery technology backed by Taiwan’s Industrial Technology\nResearch Institute (ITRI)\n* A jointly submitted U.S. Department of Energy grant application\n* A commitment from the Baytown Economic Development Foundation securing a\nsite in the TGS Cedar Port Industrial Park\n* Plans to establish a fully automated U.S. production line designed to supply\nhigh-density batteries for aerospace, defense and dual-use drone applications\nProceeds from the expected financing are expected to support:\n* Completion of the 100 MWh automated solid-state battery production line\ntargeting drone and advanced mobility applications\n* Procurement of customized automated manufacturing systems\n* Technology transfer, workforce training and infrastructure development\n* Technical milestones required for federal funding and customer qualification\nJonathan Chiang, CEO and Chairman of J-Star Holding, commented, “This\nagreement with White Group represents an important step in advancing the\nfinancing strategy for our Baytown, Texas facility. Following our partnership\nwith PSSB, our Department of Energy grant application, and the securing of our\nBaytown site, we are now focused on building the capital structure required to\nbring this project into execution. We believe the combination of Taiwanese\nbattery innovation and U.S. manufacturing will help establish a secure\ndomestic supply chain for next-generation energy storage solutions serving the\nrapidly expanding aerospace and defense drone markets.”\n\nAbout White Group\nWhite Group Pte. Ltd. is a Singapore-based, boutique investment and\ndevelopment firm founded in 2005. The firm focuses on real estate, technology,\nand healthcare investments across Asia and seeks to create long-term value for\nits partners. Visit whitegroup.com.sg\n(https://www.globenewswire.com/Tracker?data=xUt1bKYjz-fLHyB7XPPwINdnDHdXlbyrlO149JIOIfsZoGlioQ_6s_iKHqkRHswJouMaQCCRgDTRURJLaTbCFMYbb35WZzazhxcRw369dco=)\nfor more information.\n\nAbout J-Star\nJ-Star Holding Co., Ltd. (NASDAQ: YMAT) is a holding company with operations\nconducted through subsidiaries in Taiwan, Hong Kong, and Samoa with its\nheadquarters in Taiwan. J-Star’s predecessor group was established in 1970,\nand has accumulated over 50 years of know-how in material composites industry.\nJ-Star develops and commercializes the technology on carbon reinforcement and\nresin systems. With decades of experience and knowledge in composites and\nmaterials, J-Star is able to apply its expertise and technology to design and\nmanufacture a great variety of lightweight, high-performance carbon composite\nproducts, ranging from key structural parts of electric bicycles and sports\nbicycles, rackets, automobile parts to healthcare products. Visit\nj-starholding.com\n(https://www.globenewswire.com/Tracker?data=kcJwIE7Q6IFDSAiRfXuIxFC78-xGDq4ysMvvACP7g7Zw04gDCErsa5m6U0dO3QPcGsizQOZjgv3DRtmaXNUheEUISqVxQBF2q2Bz-XxOyIY=) and\nymacorp.com\n(https://www.globenewswire.com/Tracker?data=QDloOxQ_Ao69vKSMQar6kbpFl5_XT11UMnTkgQVTEn7y2R9J3o5czwE72evfnHrOWqHmx2PRTK7HxU_R41uiGA==)\nto learn more.\n\nForward Looking-Statements\n\nCertain statements contained in this press release about future expectations,\nplans and prospects, as well as any other statements regarding matters that\nare not historical facts, may constitute “forward-looking statements”\nwithin the meaning of the Private Securities Litigation Reform Act of 1995.\nThese statements include, but are not limited to, statements relating to the\nexpected trading commencement and closing dates. The words “anticipate,”\n“believe,” “continue,” “could,” “estimate,” “expect,”\n“intend,” “may,” “plan,” “potential,” “predict,”\n“project,” “should,” “target,” “will,” “would” and similar\nexpressions are intended to identify forward-looking statements, although not\nall forward-looking statements contain these identifying words. Actual results\nmay differ materially from those indicated by such forward-looking statements\nas a result of various important factors, including: the uncertainties related\nto market conditions and other factors discussed in the “Risk Factors”\nsection of the final prospectus filed with the SEC. For these reasons, among\nothers, investors are cautioned not to place undue reliance upon any\nforward-looking statements in this press release. Any forward-looking\nstatements contained in this press release speak only as of the date hereof,\nand J-Star specifically disclaims any obligation to update any forward-looking\nstatement, whether as a result of new information, future events or otherwise,\nexcept as required by law.\n\nContact:\nMatt Chesler, CFA\nFNK IR\n646-809-2183\ninvestor@j-starholding.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/1a4c6faf-93be-4d28-a35f-1df9c4f0404e)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-08T13:00:00.913289894Z","server_sent_at_ms":1778245200913},"received_at":"2026-05-08T13:00:00.999Z","source_url":null},"analysis":{"id":"21472","press_release_id":"27736","analysis_json":{"industry":{"label":"Chemicals","sector":"Materials"},"redFlags":[],"eventType":"partnership","narrative":"J-Star Holding signed a non-binding MOU with White Group to support a $100 million capital formation for the planned automated solid-state battery production facility in Baytown, Texas.\n\nThe financing initiative complements J-Star's strategic partnership with PSSB and their joint U.S. Department of Energy grant application.\n\nThe Baytown facility is expected to produce 100 MWh of high-density batteries for aerospace, defense, and advanced mobility applications, with proceeds supporting construction, automation, and technology transfer.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"MOU with White Group to secure $100M for Baytown solid-state battery facility -- strategic progress in U.S. manufacturing."},"keyFigures":{"dealValueUsd":"$100 million","offeringPrice":0,"sharesOffered":0},"quotedText":"This agreement with White Group represents an important step in advancing the financing strategy for our Baytown, Texas facility.","namedEntities":{"people":[{"name":"Jonathan Chiang","role":"CEO and Chairman of J-Star Holding"}],"products":["solid-state battery production facility","polymer-based solid-state battery solutions"],"companies":[{"name":"J-Star Holding Co., Ltd.","ticker":"YMAT","relationship":"primary"},{"name":"White Group Pte. 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While non-binding, it signals progress and potential investor interest."},"tickerRelevance":{"others":[{"ticker":"PSSB","relevance":"partner"}],"primary":"YMAT"},"globalImportance":35,"audienceRelevance":50,"eventTypeSecondary":["offering"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"partnership and financing","sectorWeight":"Materials","householdBrandBoost":"none","marketCapAdjustment":"moderate","retailFavoriteBoost":"none"}},"event_type":"partnership","event_type_secondary":["offering"],"sentiment":"bullish","material_impact_score":3,"narrative":"J-Star Holding signed a non-binding MOU with White Group to support a $100 million capital formation for the planned automated solid-state battery production facility in Baytown, Texas.\n\nThe financing initiative complements J-Star's strategic partnership with PSSB and their joint U.S. Department of Energy grant application.\n\nThe Baytown facility is expected to produce 100 MWh of high-density batteries for aerospace, defense, and advanced mobility applications, with proceeds supporting construction, automation, and technology transfer.","key_figures":{"dealValueUsd":"$100 million","offeringPrice":0,"sharesOffered":0},"named_entities":{"people":[{"name":"Jonathan Chiang","role":"CEO and Chairman of J-Star Holding"}],"products":["solid-state battery production facility","polymer-based solid-state battery solutions"],"companies":[{"name":"J-Star Holding Co., Ltd.","ticker":"YMAT","relationship":"primary"},{"name":"White Group Pte. Ltd.","relationship":"partner"},{"name":"Patriot Green Energy Technology Co., Ltd.","ticker":"PSSB","relationship":"partner"},{"name":"Taiwan’s Industrial Technology Research Institute (ITRI)","relationship":"partner"},{"name":"Baytown Economic Development Foundation","relationship":"other"},{"name":"U.S. Department of Energy","relationship":"regulator"}],"dollarAmounts":[{"amount":"$100 million","context":"proposed investment to support construction, automation, and technical development"}]},"model_name":"Qwen/Qwen2.5-72B-Instruct-AWQ","prompt_hash":"sha256:186ff69e425b2b0e","schema_hash":"sha256:429c64621f0b03c9","created_at":"2026-05-08T13:01:20.979Z","global_importance":35,"audience_relevance":50,"importance_components":{"tickerTier":"mid-cap","eventGravity":"partnership and financing","sectorWeight":"Materials","householdBrandBoost":"none","marketCapAdjustment":"moderate","retailFavoriteBoost":"none"}},"durationMs":41687,"modelName":"george-droid-qwen-72b"}}