Li-Cycle, the company behind a stalled $700 million battery recycling hub in Rochester, has filed for bankruptcy protection in the U.S. and Canada, according to News10NBC.
The project, once expected to bring 250 jobs, halted in 2023 due to rising costs. Now dormant, its future is uncertain. Investor Glencore has offered a minimum $40 million bid for the site, but hasn’t committed to completing it. The Department of Energy’s $475 million loan remains untouched due to unmet conditions.
Analysts doubt the hub will ever be finished, calling Glencore’s interest a long shot with little assurance it will revive the project.
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