TAICHUNG CITY, Taiwan, June 02, 2026 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (NASDAQ:YMAT) ("J-Star" or the "Company") today outlines foundational milestones supporting its proposed $122.5 million solid-state battery manufacturing facility in Baytown, Texas: a Taiwan Central Bank authorization supporting a proposed $60 million 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.

Milestone 1: Taiwan Central Bank Authorization Supporting Proposed $60 Million Outbound Investment

On May 26, 2026, J-Star announced that its subsidiary YMA Corporation received authorization from the Central Bank of Taiwan permitting it to pursue financing activities through designated Taiwanese banking institutions in support of an intended US$60 million investment in the Baytown facility. This authorization, disclosed in the Company's Form 6-K filed with the SEC, advances the Company's capital formation activities for the facility and represents a significant regulatory milestone in that process. This authorization was received following submission of the Company's Full Application to DOE and represents additional progress in the Company's capital formation efforts supporting the proposed facility.

Milestone 2: Baytown EDF Formal Letter of Intent and Site Commitment

On April 14, 2026, the Baytown West Chambers County Economic Development Foundation ("EDF") issued a formal Letter of Intent to YMA(TX) 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.

Infrastructure commitments include:

A minimum five-acre site within TGS Cedar Port Industrial Park, one of the largest master-planned rail and barge-served industrial parks in the United States.
A critical 12,000 square foot ISO-7 Ultra-Dry Room and external mechanical yards.
Access to 4,000-amp high-capacity electrical service essential for automated assembly and NAEPE coating processes.
A long-term lease framework with a Purchase Option, providing a path to full property ownership.

The EDF also formally acknowledged the Company's patented solvent-free PSSB technology (Patent No. US 2022/0209218 A1) and the venture-backed partnership with Taiwan's Industrial Technology Research Institute (ITRI).

Management Commentary

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."

Policy Context

The proposed Baytown facility is aligned with U.S. federal priorities supporting domestic battery manufacturing, drone supply chain resilience, advanced industrial capacity, and energy security. The Company believes the facility's planned focus on solid-state battery production for UAV, defense, aerospace, energy storage, and advanced industrial markets addresses a critical domestic supply chain need.

About J-Star

J-Star Holding Co., Ltd. (NASDAQ:YMAT) is a holding company with operations conducted through subsidiaries in Taiwan, Hong Kong, and Samoa with its headquarters in Taiwan. J-Star's predecessor group was established in 1970, and has accumulated over 50 years of know-how in material composites industry. J-Star develops and commercializes the technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, J-Star is able to apply its expertise and technology to design and manufacture a great variety of lightweight, high-performance carbon composite products, ranging from key structural parts of electric bicycles and sports bicycles, rackets, automobile parts to healthcare products. Visit j-starholding.com and ymacorp.com to learn more.

Forward Looking-Statements

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to estimated regional economic impact based on standard manufacturing-industry multiplier assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the final prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and J-Star specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Matt Chesler, CFA

FNK IR

646-809-2183

investor@j-starholding.com

J-Star Holding Outlines Foundational Milestones Supporting Proposed Baytown Battery Manufacturing Facility