Canadian lithium-ion battery recovery company Li-Cycle Holdings has halted construction of its Rochester hub at Eastman Business Park, citing rising construction costs.
The board of directors decided to pause construction, pending a review of the future strategy for the project.
The U.S. Department of Energy in February announced a $375 million loan commitment for the project.
The state last year promised $13 million in tax credits for the creation of 270 jobs.
Monroe County approved nearly $6 million in sales tax breaks.
Construction workers showed up today and learned the project was mothballed.
The Rochester hub was expected to be commissioned by the end of the year.
Li-Cycle and partner Glencore said last week they might alter plans for a joint hub in Italy if regulators didn't put the approval process on the fast track