YMAT News & Events

J-Star outlined milestones supporting its proposed $122.5M solid-state battery manufacturing facility in Baytown, Texas: a Taiwan Central Bank authorization supporting a proposed $60M outbound investment, and a formal site commitment from the Baytown West Chambers County Economic Development Foundation. Together, these developments advance key project development elements, including capital formation activities and site readiness, as the company's DOE Grant application remains under review. The company's previously disclosed full application under the U.S. Department of Energy's IIJA Section 40207 battery manufacturing grant program remains listed as "In Review" on the DOE eXCHANGE portal. No funding determination has been made at this time. On April 14, the Baytown West Chambers County Economic Development Foundation issued a formal letter of intent to YMA INC. committing to site identification, infrastructure provision, and long-term lease facilitation. The EDF committed to an 18-month site reservation and exclusivity period specifically structured to satisfy the Site Control requirements of DE-FOA-0003585. The EDF's letter of intent provides a framework for site control, infrastructure support, and long-term facility development, addressing several key requirements outlined in the DOE funding solicitation. Commented Jonathan Chiang, CEO and Chairman of J-Star Holding, "These developments represent meaningful progress as we continue advancing plans for a U.S.-based solid-state battery manufacturing operation. The Taiwan Central Bank authorization supports our capital formation efforts, while the Baytown EDF commitment advances site readiness and infrastructure planning. Together, they strengthen important components of the project framework as our DOE application remains under review."

J-Star Holding announced that its subsidiary YMA Corporation has received formal authorization from the Central Bank of Taiwan to initiate under the Sovereign-Backed financing framework for the Company's strategic U.S. infrastructure expansion initiative under YMA. Pursuant to the formal authorization from the Central Bank of Taiwan, the Company is preparing to select a designated domestic banking institution to proceed with the formal application process for a $60 million U.S. dollar loan facility. The financing is intended to support the development of a 100MWh solid-state battery manufacturing line in Baytown, Texas, within the Greater Houston industrial corridor.

J-Star announced that it has signed a non-binding memorandum of understanding with White Group to support capital formation for the company's planned automated solid-state battery production facility in Baytown, Texas. Under the MOU, White Group will work with J-Star to identify and introduce potential U.S.-based private equity partners to participate in a proposed $100M investment to support construction, automation and technical development of the Baytown facility. The investment is expected to complement J-Star and PSSB's previously submitted U.S. Department of Energy grant application for the project.

J-Star announced that Jonathan Chiang has been reappointed CEO, effective March 31. Chiang succeeds Sam Van, who will continue to support the company as an advisor to the board and management team. The board of directors determined that Chiang's return as CEO will provide experienced leadership and continuity as the company navigates a period of heightened global economic uncertainty and positions itself for long-term growth. Chiang previously served as CEO of J-Star and has led the company since its inception, guiding its evolution into a global provider of high-performance carbon composite products and advanced materials solutions. He will continue to serve as chairman of the board.