SOUTHLAKE, Texas, March 16, 2026 (GLOBE NEWSWIRE) -- Renewal Fuels, Inc. (OTC: RNWF) (“RNWF”, “American Fusion” or the “Company”), today provided an update regarding its regulatory filings and recent legal proceedings.
Legal Update
The Company provides the following update regarding certain legal proceedings relating to the Company’s Series 2020 Super Voting Preferred Share and historical share issuances.
The Delaware Court of Chancery has denied motions filed by a plaintiff in a recently filed action relating to the Company’s Series 2020 Super Voting Preferred Share. Following a hearing, the Magistrate in Chancery denied the plaintiff’s Motion for Expedited Proceedings and declined to schedule a hearing on the plaintiff’s request for preliminary injunctive relief.
In its ruling, the Court determined that the plaintiff failed to establish a colorable claim to ownership of the Series 2020 Super Voting Preferred Share at issue and failed to demonstrate a risk of imminent action by the Company’s transfer agent that could cause irreparable harm.
The Company appeared at the hearing through Delaware counsel and opposed the plaintiff’s request for expedited proceedings. The Court also established a briefing schedule under which the Company intends to file a motion to dismiss the complaint within thirty days of the Court’s order.
Separately, the Company continues to pursue previously disclosed litigation in Washington State relating to the return to treasury of shares that were issued in connection with transactions for which consideration was never delivered. The Washington Superior Court held a hearing in chambers on Friday, March 13, 2026 regarding the Company’s requested relief in that matter, and the Company is currently awaiting the Court’s ruling.
The Company continues to defend the Delaware matter and pursue its claims in Washington through the normal course of legal proceedings.
Regulatory Update
The Company previously submitted a Registration Statement on Form 10 to the U.S. Securities and Exchange Commission on March 12, 2026. Following submission, the Company promptly identified and addressed certain clerical and presentation matters within the financial statements and related disclosures, as well as a technical filing classification matter relating to the section under which the registration statement was submitted.
The Company submitted a request to withdraw the initial filing, which has been accepted, and has completed the refiling of a corrected Registration Statement on Form 10 under Section 12(g) of the Securities Exchange Act of 1934.
The Company has also filed an amendment to address certain clerical and presentation matters to ensure internal consistency within the financial statements and related disclosures. These corrections do not change the Company’s previously reported net loss, total assets, total liabilities, or total stockholders’ equity for any period presented. Except for these updates and the filing classification correction, the Form 10 remains unchanged.
For more information about Kepler Fusion Technologies and its Texatron™ platform, please visit: www.keplerfusion.com and americanfusionenergy.com.
About Renewal Fuels, Inc. and American Fusion
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.
About Kepler Fusion Technologies
Kepler Fusion Technologies is an advanced energy technology company developing the Texatron™ aneutronic fusion platform. Kepler’s technology is designed to support modular, infrastructure-grade deployment for industrial, commercial, and grid-constrained applications. The Company’s development strategy emphasizes system-level engineering, disciplined intellectual property protection, and scalable architectures intended to support long-term commercial operation. Kepler Fusion Technologies operates as a wholly owned subsidiary of Renewal Fuels, Inc. (OTC: RNWF).
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company’s plans, objectives, expectations, and intentions, such as statements relating to technology development and commercialization, patent filings, regulatory initiatives, SEC registration, audit completion, exchange uplisting, and future business operations. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “potential,” “should,” and “will” identify forward-looking statements. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including risks related to technology development, intellectual property protection, regulatory approvals, capital availability, audit and SEC reporting timelines, exchange requirements, litigation matters, and general market and economic conditions. This release is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The Company undertakes no obligation to update forward-looking statements except as required by law.
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