Alphabet Inc., Google's parent company, announced on Wednesday that two research projects, Loon and Wing, are becoming independent businesses.
Loon, the balloon-flying internet-delivery project and Wing, which is developing a drone-delivery service, are now standalone businesses operating under the Alphabet umbrella.
This likely means little to Alphabet's bottom line for the foreseeable future, but the two projects emerged from Google's X facility, which is more focused on changing the world.
Loon and Wing, two research projects developed within Google's secretive X research facility, are becoming standalone businesses within Alphabet, Google's parent company announced Wednesday.
Loon is the project that releases massive balloons into the stratosphere carrying the gear needed to supply people in rural communities with an internet connection. Wing seeks to develop the means to deliver goods to consumers via drone aircraft.
Alphabet said the companies' financial...