Goldenstone Acquisition Limited (Ticker: GDST) Announces Intent to Merge with ESG Packaging Innovator Deluxe Technology Group, Targeting 2026 NASDAQ Listing

NEW YORK, TAIPEI, and TOKYO, Feb. 4, 2026 /PRNewswire/ -- Goldenstone Acquisition Limited (Ticker: GDST) ("Goldenstone"), a special purpose acquisition company listed in the U.S. capital market, recently announced the execution of a letter of intent (LOI) for a proposed business combination with Deluxe Technology Group ("Deluxe"), a Taiwan-based leader in green technology machinery and sustainable material solutions. The merger is poised to capitalize on the rapidly growing sustainable packaging market, which is projected to reach over $250 billion by 2035.

Amidst a complex global regulatory landscape and increasing consumer demand for eco-friendly products, Deluxe has distinguished itself by developing a proprietary and vertically integrated business model. The company's patented pulp molding formula as well as technology, and use of agricultural waste as a raw material directly address the industry's most pressing challenges: cost, performance, and scalability. This strategic approach has allowed Deluxe to achieve a significant breakthrough without geographical boundaries by offering compostable product lines that are not only environmentally superior but also cost-competitive with traditional plastics.

"Deluxe Technology Group is not just participating in the green transition; they are leading it," said the CEO of Goldenstone Acquisition Limited. "In a market where many companies struggle with the high cost and inconsistent supply of sustainable materials, Deluxe has created a scalable and economically viable solution. Their ability to turn agricultural waste into high-performance, cost-effective packaging is a game-changer for the industry. We are confident that this merger will unlock significant value for our investors and accelerate the global adoption of sustainable packaging."

The proposed merger is further strengthened by a strategic partnership with Oji Holdings Corporation ("Oji"), a Japanese pulp and paper manufacturing leader. This collaboration secures a stable supply of high-quality raw materials for Deluxe, mitigating a key risk that has hindered the growth of many other sustainable packaging companies. The partnership aligns with Oji's commitment to contribute the "Harmony with Nature and Society" and will leverage Deluxe's advanced technology to expand its global footprint.

Deluxe's forward-thinking strategy is also reflected in its recent expansion into the United States, establishing a physical presence to better serve its North American customer base, which includes several Fortune 500 companies. This move is particularly timely, as the North American compostable packaging market represented the largest share in 2025, at around 30% of the global market.

"Our mission has always been to prove that sustainability and profitability can go hand in hand," said Jason Lai, Founder and CEO of Deluxe Technology Group. "With over 130 patents and 20 global awards, our technology is a testament to this vision. By partnering with Goldenstone, we are gaining a strategic partner that will help us to navigate the public markets and to scale our solutions to meet the growing demand from the world's largest brands. Together, we will accelerate the transition away from single-use plastics and create a more sustainable future."

Under the terms of the LOI, Goldenstone and Deluxe will work exclusively towards the negotiation and execution of a definitive merger agreement. The transaction is subject to due diligence, the execution of definitive agreements, and customary closing conditions, including regulatory and shareholder approvals. The proposed merger aims for a completion and subsequent public listing on the NASDAQ in 2026.

Advisors and Underwriters

Loeb & Loeb LLP is serving as legal counsel to Goldenstone Acquisition Limited. Marcum Asia is serving as the Company's auditor. Maxim Group LLC is acting as the financial advisor for the transaction. Chi Advisory Limited is serving as a financial advisor to Deluxe.

About Goldenstone Acquisition Limited (Ticker: GDST)

Goldenstone Acquisition Limited is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Goldenstone Acquisition Limited completed its US$57.5 million initial public offering on March 17, 2022, with about US$5.3M trust account balance as of September 30, 2025.

About Oji Holdings Corporation

Oji is a leading Japanese company committed to resource sustainability and industrial innovation. Grounded in their philosophy to contribute to the "Creation of Innovative Value" and "Harmony with Nature and Society," Oji serves as both a strategic investor and a primary supplier of premium pure pulp to Deluxe, facilitating global expansion and environmental stewardship.

About Deluxe Technology Group

Headquartered in Taiwan region with operations expanding into the US, Deluxe Technology Group is a premier provider of green technology machinery and sustainable product solutions. Specializing in pulp molding formula and ESG Technology, the company offers a complete turnkey solution. With over 20 global awards, and more than 130 patents, Deluxe provides compostable alternatives to plastic that are produced with industry-leading energy efficiency, with select products offering superior cost-competitiveness to plastic. Deluxe is supported by a prestigious consortium of institutional investors, validating Deluxe's potential to lead the global green transition. Key investors include GIC (Government of Singapore Investment Corporation), Sigma Global Fund, JAFCO Asia, Oji Holdings Corporation, SBI & Capital 22, Cathay Private Equity, and Delta Electronics.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This includes statements regarding the intent to enter into a definitive agreement and the timeline for a 2026 merger. These statements are based on various assumptions and the current expectations of the management of Goldenstone and Deluxe and are not predictions of actual performance. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Goldenstone and Deluxe.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation, or sale would be unlawful under the securities laws of any such jurisdiction.

SOURCE Goldenstone Acquisition Limited