Ren Fuel K2B Ab announced that it has signed a purchase agreement to receive up to $3,000,000 on April 24, 2024. The transaction will include participation from new investor Comstock Inc for $3,000,000. The company will receive the funds over a period of 3 years. The company will issue senior secured convertible notes bearing interest rate of 7%. The senior secured convertible notes will be funded in quarterly installments of $250,000 for three years. The notes are convertible at pre-money per share valuation equal to the lower of $30,000,000 or the post-money valuation.

On the same date, the company raised $350,000 in its first tranche.