Renewal Fuels, Inc. (OTC: RNWF) provided an update on its pending civil action in King County Superior Court, stating that 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, while leaving defaults against those defendants in place and not addressing service, rescission, the evidentiary record, or the merits of the claims.
The action seeks rescission of two 2021 asset purchase agreements and cancellation of approximately 1.683 billion shares allegedly issued without consideration. The company said 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. For further details, see the full press release at https://ibn.fm/DH528.
Renewal Fuels, Inc. 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.
This court update is significant because it clears a procedural hurdle that has been delaying the company's rebranding and name change, which are critical steps in its transition to a fusion energy company. The dismissal of claims against Justin Costello removes a potential obstacle, while the refiling of the motion for default judgment is expected to proceed smoothly. Investors and stakeholders will be watching for the finalization of the corporate action with FINRA, which could signal a new chapter for the company under the American Fusion identity. Additional updates are available in the company's newsroom at http://ibn.fm/RNWF.
