J-Star Holding Co., Ltd. (NASDAQ:YMAT) announced it has entered into an exclusive worldwide distribution agreement with Patriot Green Energy Technology covering PSSB’s solid-state battery products.
Under the terms of the agreement, J-Star will act as the sole global distributor for PSSB’s solid-state batteries designed for electric-assist bicycles and electric motorcycles, according to a company press release. The company will also retain non-exclusive distribution rights for additional PSSB battery products.
PSSB focuses on developing solid-state battery technologies aimed at high-performance and defense-related applications. The company counts Taiwan’s Industrial Technology Research Institute, a leading applied research organization, as a significant minority shareholder.
“We are proud to extend our partnership with PSSB and to formalize our exclusive distribution relationship after signing our MOU earlier this year,” said Jonathan Chiang, Chairman of J-Star.
J-Star operates as a holding company with business activities across Taiwan, Hong Kong and Samoa. The group specializes in carbon fiber and composite materials used in sports equipment, healthcare products, automotive components and resin systems. Founded in 1970 through its predecessor organization, J-Star currently has a market capitalization of approximately $6.41 million, with shares trading around $0.37, close to their 52-week low of $0.36.
The distribution agreement builds on a memorandum of understanding signed earlier in 2026 between the two companies. Despite the strategic partnership announcement, InvestingPro analysis indicates the stock may appear overvalued at present levels, with additional analytical insights and financial metrics available through its platform.
In separate developments, J-Star has recently undertaken several strategic actions. The company filed complaints against PwC with both the AICPA and PCAOB, alleging misrepresentations tied to its Nasdaq IPO process. It has also signed an MOU with Patriot Technology to jointly develop lightweight battery technology initially targeting drone applications, with potential expansion into electric mobility markets.
Additionally, J-Star plans to wind down operations in China while expanding manufacturing activities in the United States with a focus on automation. The board has approved a 2025 Equity Incentive Plan allowing the issuance of up to 3,354,075 Class A ordinary shares to employees, directors and consultants. The company has also received a Nasdaq noncompliance notice after its closing bid price remained below the $1 minimum requirement for 30 consecutive trading days, highlighting an ongoing period of transition and strategic repositioning for the business.