Li-Cycle announced Tuesday that it is pausing expansion of its Rochester lithium-ion battery facility.

The Toronto-based company is citing spiraling construction costs and says an evaluation of the project will take place.

Li-Cycle received a $375 million loan from the Department of Energy to produce material from lithium-ion batteries for re-use by manufacturers and electric vehicle producers.

It was expected to be the largest refinery of its kind in North America and Europe.

"Obviously, I'm concerned, but I'm optimistic,” Monroe County Executive Adam Bello said. “I spoke to the company this morning. And, like I said, they have a lot resources already invested in that site. This is one of the largest construction sites we've had in our community in a very long time. Hopefully, they get their financing together and finish the project in a timely way."