Renewal Fuels, Inc. (OTC: RNWF) provided an update on its ongoing civil action in King County Superior Court, detailing the latest developments in its effort to rescind two 2021 asset purchase agreements and cancel approximately 1.683 billion shares allegedly issued without consideration. On February 26, 2026, the court dismissed all claims against Justin Costello under Civil Rule 41 and struck his emergency motion for stay after he was removed as a party. The court also struck the company’s motion for entry of default judgment against the remaining corporate defendants on procedural grounds related solely to citation formatting. Importantly, the defaults against those defendants remain in place, and the court did not address service, rescission, the evidentiary record, or the merits of the claims. The company stated it is refiling a corrected motion in compliance with procedural directives and believes this is the last remaining material item required to effect its corporate action with FINRA for a name and voluntary symbol change.
The full press release is available at https://ibn.fm/DH528. Renewal Fuels is an advanced energy platform company focused on the development and commercialization of fusion energy technologies through its wholly owned subsidiary, Kepler Fusion Technologies. Following its previously announced merger with Kepler, the company is operating under the American Fusion brand and has filed a corporate action with FINRA to change its legal name to American Fusion Inc. The company’s strategy is centered on building a scalable, infrastructure-grade fusion energy platform supported by proprietary technology, disciplined intellectual property development, and long-term commercial deployment objectives. The latest news and updates relating to RNWF are available in the company’s newsroom at http://ibn.fm/RNWF.
This legal update is significant for Renewal Fuels as it clears a procedural hurdle in its pursuit of share rescission and paves the way for the company to finalize its name and symbol change, which is a critical step in rebranding to American Fusion and advancing its fusion energy platform. The dismissal of claims against Costello and the striking of the stay motion remove potential delays, while the refiling of the corrected motion for default judgment is expected to proceed without further substantive challenges. Investors and stakeholders are watching closely as the company continues to execute its strategic transformation.
