J-Star Holding and White Group Inks MOU to Accelerate Financing for Texas Solid-State Battery Facility

(SeaPRwire) –   White Group will assist in securing funding for J-Star’s automated battery manufacturing project in Baytown, Texas.

TAICHUNG CITY, Taiwan, May 08, 2026 — J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), today announced it has entered into a non-binding memorandum of understanding (“MOU”) with White Group Ptd., Ltd. (“White Group”), a Singapore-based investment and development firm, to support capital formation for its planned automated solid-state battery production facility in Baytown, Texas.

This financing effort builds on J-Star’s previously disclosed strategic partnership with Patriot Green Energy Technology Co., Ltd. (“PSSB”) to develop Made-in-USA polymer-based solid-state batteries and establish a 100 megawatt-hour (MWh) modular production line aimed at the fast-growing unmanned aerial vehicle (UAV) and drone markets.

Under the MOU, White Group will collaborate with J-Star to identify and introduce U.S.-based private equity investors to participate in a proposed $100 million investment intended to fund construction, automation, and technical development at the Baytown facility. This investment is expected to complement J-Star and PSSB’s prior application for a grant from the U.S. Department of Energy for the project.

Advancing the Baytown Solid-State Battery Initiative

The anticipated capital raise marks the next phase of J-Star’s Baytown initiative, which already includes:

• A strategic alliance with PSSB, a developer of advanced solid-state battery technology backed by Taiwan’s Industrial Technology Research Institute (ITRI)
• A joint submission of an application for a U.S. Department of Energy grant
• An agreement with the Baytown Economic Development Foundation securing a site within the TGS Cedar Port Industrial Park
• Plans to build a fully automated U.S. production line designed to supply high-performance batteries for aerospace, defense, and dual-use drone applications

Proceeds from the expected financing are anticipated to support:

• Completion of the 100 MWh automated solid-state battery production line targeting drone and next-generation mobility applications
• Acquisition of specialized automated manufacturing systems
• Technology transfer, workforce training, and infrastructure development
• Technical milestones needed to qualify for federal funding and meet customer requirements

Jonathan Chiang, CEO and Chairman of J-Star Holding, stated, “Our collaboration with White Group represents a significant milestone in finalizing the financing strategy for our Baytown, Texas facility. Following our partnership with PSSB, our Department of Energy grant application, and the acquisition of our Baytown site, we are now focused on establishing the necessary capital structure to move this project forward. We believe that combining Taiwanese battery innovation with U.S. manufacturing capabilities will help create a secure domestic supply chain for next-generation energy storage solutions serving the rapidly expanding aerospace and defense drone sectors.”

About White Group
White Group Pte. Ltd. is a Singapore-based boutique investment and development firm established in 2005. The company focuses on real estate, technology, and healthcare investments throughout Asia and aims to generate long-term value for its partners. Visit whitegroup.com.sg for more information.

About J-Star
J-Star Holding Co., Ltd. (NASDAQ: YMAT) operates through subsidiaries in Taiwan, Hong Kong, and Samoa, with headquarters in Taiwan. The company’s predecessor organization was founded in 1970 and has accumulated over 50 years of expertise in the material composites industry. J-Star develops and commercializes technologies related to carbon reinforcement and resin systems. Leveraging decades of experience in composites and materials science, J-Star designs and manufactures a wide range of lightweight, high-performance carbon composite products—from key structural components of electric bicycles and sports bikes, rackets, automotive parts, to medical devices. 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 the expected trading commencement and closing dates. 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