J-Star Holding Provides Additional Details on Baytown Economic Development Foundation LOI Supporting Proposed U.S. Solid-State Battery Manufacturing Facility

About this update from J-star Holding Co., Ltd.

Formal LOI Details Site Selection Support, Infrastructure Requirements, 18-Month Site Availability Commitment, and Framework for Long-Term Facility Development TAICHUNG CITY, Taiwan, June 01, 2026 (GLOBE NEWSWIRE) -- J-Star Holding Co., Ltd. (Nasdaq: YMAT) (“J-Star” or the “Company”), today provided additional details regarding the commitment letter previously referenced in its May 1, 2026 announcement concerning the Company's proposed 100MWh modular automated solid-state battery manufacturing facility in Baytown, Texas. As previously disclosed, the Baytown West Chambers County Economic Development Foundation ("EDF") issued a commitment letter supporting the Company's site selection efforts and securing the availability of a parcel within the TGS Cedar Port Industrial Park for the proposed facility. J-Star is now providing additional information regarding the substantive terms of that commitment, which was formally structured as a Letter of Intent ("LOI") executed on April 14, 2026. In its Form 6-K filed on May 1, 2026, the Company stated, "The project has also received a commitment letter from the Baytown Economic Development Foundation securing a parcel in the TGS Cedar Port Industrial Park for construction of the factory." The Company believes the LOI reflects a significant level of local engagement and project support and provides important context regarding the planning and development activities already underway for the Baytown initiative. Additional Details Regarding the EDF Letter of Intent The LOI outlines a framework of site-selection assistance, infrastructure planning considerations, and development support provisions intended to facilitate the potential establishment of an advanced solid-state battery manufacturing operation in Baytown. Project Development Progress The Company's disclosure of the EDF LOI follows its May 26, 2026 announcement that it had received formal authorization from the Central Bank of Taiwan to initiate a sovereign-backed financing framework supporting a proposed US$60 million loan facility for the planned Baytown project. The Baytown facility is expected to require approximately US$122.5 million of total investment and is intended to serve as a U.S.-based manufacturing platform for the Company's solid-state battery technology. Taken together, the Company believes the EDF si...

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