J-Star Holding Co., Ltd. (NASDAQ:YMAT) shares jumped 50.54% to $1.37 in after-hours trading after the company disclosed two foundational milestones for its proposed $122.5 million solid-state battery manufacturing facility in Baytown, Texas.
Regulatory Green Light Fuels Post-Market Rally
According to the company’s Tuesday announcement, subsidiary YMA Corporation received authorization from Taiwan’s Central Bank on May 26 to pursue $60 million in financing through Taiwanese institutions, a key regulatory step filed in a Securities and Exchange Commission filing.
On Apr. 14, the Baytown West Chambers County Economic Development Foundation secured an 18-month exclusive site reservation within TGS Cedar Port Industrial Park, one of the largest master-planned rail- and barge-served industrial parks in the U.S., meeting DOE Site Control requirements. Infrastructure pledges include a 12,000 sq. ft. ISO-7 Ultra-Dry Room and 4,000-amp electrical service.
The company’s DOE IIJA Section 40207 battery manufacturing grant application remains “In Review.” No funding has been awarded.
