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. The full press release is available 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 for shareholders as it clarifies the legal status of the rescission claims and moves the company closer to completing its corporate rebranding, which could impact the stock symbol and market perception. The dismissal of claims against Costello and the procedural setback on default judgment do not affect the merits of the case, and the company is confident in refiling the motion. Investors can find the latest news on RNWF at http://ibn.fm/RNWF.
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