Envirostream Battery Storage Fire Jan 2019

Well, well, well, what do we have here? Envirostream had a fire at their facility in Jan 2019. Check out the footage attached.

I wonder what caused the blaze to start? Is their battery storage practice not up to scratch? And why were shareholders not told?

On the 4th of April 2019, they told shareholders that they were buying into the company ($500k cash+ $100k shares) for the intial 18.9% buy-in
https://lithium-au.com/wp-content/uploads/2016/11/04042019-Battery-recycling-made-easy.pdf

On the 16th October 2019, they increased their stake to 23.9% for an additional $100k
https://lithium-au.com/wp-content/uploads/2016/11/16102019-LITs-stake-in-Envirostream-Australia-increased-to-23.9.pdf

On the 26th November 2019, they announced increasing the stake to 74% for an additional $100k.


It all makes sense now why Andrew Mackenzie was offloading this thing quickly and cheaply.

I wonder if their are any outstanding EPA fines?

And no wonder the company had to move. Check this out, its an extract from Envirostream's "Current & Historical Company Extract" available from ASIC. Note the date. The lease on the property ended on the 28th Feb 2019, approx 1 month after the fire, presumably the EPA investigated, and then they move to New Gisborne.