Poland Spring has withdrawn its application to extract more water from one of its wells in Hollis.
The company had sought to double its withdrawal to 60 million gallons a year.
But the proposal was met with significant local opposition amidst a persistent drought. A meeting on the issue scheduled for Wednesday in Hollis has been cancelled.
The Maine Monitor first reported that Poland Spring withdrew its request.
In a statement, Poland Spring says even though the project received approval from the state Department of Environmental Protection, the company determined it was "in the best interest of everyone not to proceed at this time."