J-Star Holding Co Ltd (NYSE:YMAT) shares are trading sharply higher Friday afternoon as traders react to advance financing for a proposed Texas solid-state battery facility. Here’s what investors need to know.

White Group Eyes $100M Project Investment

Under a new MOU, White Group will work with J-Star to identify and introduce potential U.S.-based private equity partners for a proposed $100 million investment tied to construction, automation, and technical development at the Baytown facility. The company said the raise is expected to complement a previously submitted U.S. Department of Energy grant application for the project.

"This agreement with White Group is a key step in financing our Baytown, Texas facility," said J-Star Holding CEO Jonathan Chiang. "With our site secured and DOE grant pending, we are building the capital structure to execute. By combining Taiwanese innovation with U.S. manufacturing, we aim to provide a secure domestic supply chain for the growing aerospace and defense drone markets."

YMAT Shares Surge Friday Afternoon

YMAT Stock Price Activity: J-Star Holding shares were up 128.90% at $0.55 at the time of publication on Friday, according to Benzinga Pro data.

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