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.
CEO Jonathan Chiang called the developments “meaningful progress” in advancing plans for a U.S.-based solid-state battery manufacturing operation.
Trading Metrics, Technical Analysis
J-Star Holding, a Taiwan-based manufacturer of carbon fiber composite products, has a market capitalization of $18.24 million. The stock has traded between a 52-week high of $6.45 and a 52-week low of $0.24.
The stock has a Relative Strength Index (RSI) of 52.04.
Over the past 12 months, YMAT has dropped 77.7%.
The small-cap stock is currently trading near its annual low.
Price Action: According to Benzinga Pro data, the stock closed the regular session at $0.91, down 8.04%.
Benzinga’s Edge Stock Rankings indicate that YMAT is experiencing long-term consolidation along with short and medium-term upward movement.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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