Google’s parent company, Alphabet, has confirmed that it is shutting down Loon, a project aimed at providing wireless Internet connectivity to remote regions of the world using stratospheric balloons.
Alastair Westgarth, CEO of Loon, said the decision to close the plant was made due to a lack of partners willing to support the initiative and an inability to build a sustainable business model.
Despite the fact that we found a number of partners along the way, we did not find a way to reduce costs at a low enough level to build a long-term and sustainable business. Developing radical new technologies is inherently risky, but it doesn’t make it easier for me to break the news.
Alastar Westgart
Last year, Google announced the launch of 35 balloons in Kenya to offer internet services to Telekom Kenya subscribers. The company recently began implementing a new navigation system that would allow better control of the balloons.
Project Loon previously received an experimental license for 30 Project Loon balloons from the US Federal Communications Commission (FCC) to fly over Puerto Rico and the US Virgin Islands.
Project Loon was launched in 2012.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
