J-Star Issues Update On U.S. Carbon Fiber Supply Chain Efforts; Chairman And CEO Converts $8.2M Debt To Equity

J-Star Holding Co., Ltd. (NASDAQ:YMAT) ("J-Star" or the "Company"), an innovator in advanced composite manufacturing, today issued a corporate update aimed at aligning timelines with Tier 1 carbon fiber suppliers, highlighting management's financial commitment, and detailing the collaboration between both parties on local U.S. production of drone airframes.

Jointly Building Strategic Cooperation and Investment Frameworks for Each Party

As part of the preliminary preparations for upcoming strategic meetings and facility visits with Japanese multinational Tier 1 carbon fiber suppliers, J-Star’s Taiwan R&D head is traveling to Houston to participate in detailed discussions and advance pre-meeting coordination. J-Star will detail key operational milestones and investment frameworks for future collaboration, while both parties coordinate the necessary investments and timelines for the U.S. supply of Tier 1 carbon fiber raw materials, alongside expanded supply chain investments in the United States, to ensure a robust, adequate, and timely flow of materials.

Substantial Executive Financial Commitment

Demonstrating strong collaboration and mutual rapport with our raw material suppliers, J-Star’s management detailed the implementation of significant balance sheet strengthening initiatives. As previously disclosed, Chairman and Chief Executive Officer Jonathan Chiang has personally converted $8.2 million of debt into equity, alongside an additional $1.7 million in debt cancellation. This decisive action substantially improves the Company's financial structure and further aligns executive interests with those of public shareholders.