Sergey Brin

Alphabet has quietly upgraded its internet balloon initiative from a research lab “project” to an official corporation, setting the stage for what could be the latest standalone business to spin out from Google’s parent company.

Project Loon, which develops solar-powered balloons that beam internet access down to earth, has been incorporated as Loon Inc, according to regulatory filings.

Business Insider first noticed Loon was listed as “Loon Inc.” in a recent filing to the FCC seeking permission to float Loon balloons above Puerto Rico and provide internet access to areas affected by hurricane Maria. Previously, Loon was officially referred to as a project under Alphabet, or under X, the Alphabet subsidiary dedicated to creating ambitious “moonshot” technologies.

Loon’s incorporation is a sign that Alphabet may be preparing to spin Loon out of the X division and let it operate as its own company. Alphabet went through a similar process last year with Waymo, the company formed out of X’s self-driving car project. X also spun out Dandelion, a geothermal energy company, earlier this year, but Dandelion is not under the Alphabet umbrella.

A Loon spokesperson declined to comment.

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One person close to X told Business Insider a few months ago …read more

Source:: Businessinsider – Technology

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