Li-Cycle Gets $375 Million Loan for Rochester Hub

Senator Chuck Schumer announces a $375 million loan from the U.S. Department of Energy for Li-Cycle's Rochester Hub facility. (photo provided)

A battery recovery business with a facility planned for Rochester is getting $375 million loan from the U.S. Department of Energy.

The money for Li-Cycle's Rochester Hub facility comes from the Inflation Reduction Act.

Senator Schumer says it will help create 270 local jobs, 1000 construction jobs, and help Li-Cycle become the first-of-its-kind lithium-ion battery resource recovery facility

Li-Cycle has said the Rochester Hub is on track to start operating by late this year.