Renewal Fuels, Inc. (OTC: RNWF) provided an update on its pending civil action in King County Superior Court, reporting that on Feb. 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 action seeks rescission of two 2021 asset purchase agreements and cancellation of approximately 1.683 billion shares allegedly issued without consideration.
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. The court did not address service, rescission, the evidentiary record, or the merits of the claims. 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.
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.
For more information, the full press release is available at https://ibn.fm/DH528. The latest news and updates relating to RNWF can be found in the company’s newsroom at http://ibn.fm/RNWF.
The resolution of the rescission case is a critical step for Renewal Fuels as it seeks to clean up its capital structure and move forward with its rebranding to American Fusion. The dismissal of claims against Costello and the procedural setback on the default judgment motion are minor hurdles, but the company’s confidence that a corrected motion will be sufficient indicates that the path to FINRA approval is nearing completion. This development matters because it removes a significant overhang on the company’s stock, potentially paving the way for a new chapter focused on fusion energy commercialization.
