Renewal Fuels, Inc. (OTC: RNWF), operating as American Fusion, has provided an update on its pending civil action in King County Superior Court. On February 26, 2026, the Court entered an order dismissing all claims against Justin Costello pursuant to Civil Rule 41. Because Mr. Costello is no longer a party to the action, the Court also struck his Emergency Motion for Stay of All Proceedings.
Separately, the Court struck the Company's Motion for Entry of Default Judgment against the remaining corporate defendants on procedural grounds related solely to citation formatting requirements under Civil Rule 7 and King County Local Civil Rules. The Company emphasizes that defaults entered against the corporate defendants remain in place, and the Court did not question service, default, rescission, or the evidentiary record. The ruling was procedural and did not address the merits of the Company's claims.
The underlying action seeks rescission of two 2021 asset purchase agreements and cancellation of approximately 1,683,000,000 shares issued in connection with those transactions for which the Company contends no consideration was received. The Company is in the process of refiling a corrected motion that complies with the Court's procedural directives. Management believes this to be the last remaining material item outstanding to effect the corporate action with FINRA for the Name Change and Voluntary Symbol Change.
Management is aware of commentary circulating online and emphasizes that the Court's orders do not constitute a ruling against the Company on the substance of its claims. The Company remains committed to resolving the disputed share issuances through the judicial process.
For more information about Kepler Fusion Technologies and its Texatron™ platform, please visit www.keplerfusion.com and americanfusionenergy.com.
Renewal Fuels, Inc. (OTC: RNWF) 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 press release contains forward-looking statements, including statements regarding the Company's plans, objectives, expectations, and intentions. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. The Company undertakes no obligation to update forward-looking statements except as required by law.
