Investing.com - Aside from being known as an internet advertising giant, Alphabet (NASDAQ:GOOGL) is also known for heavy research and development spending. Alphabet operates a subsidiary known as "X", created as Google X in January 2010. Its mission is to invent and launch ambitious projects that aim to solve big problems in radical ways.
The complete list of projects in "X" is kept secret, but we do know of a few projects, including Project Loon, Makani, and Project Wing.
Project Loon is a network of balloons traveling on the edge of space, designed to connect people in rural and remote areas to the internet, help fill coverage gaps, and bring people back online after disasters. Recently, Project Loon has helped connect people in flood zones around Lima, Peru.
Makani’s mission is to create kites that harness energy efficiently from the wind. The Makani energy kite is an aerodynamic wing tethered to a ground station, and the latest prototype transfers up to 600 kilowatts to the grid ― enough to power about 300 homes.
Project Wing is all about delivery drones. The project's goal is to work towards the day when unmanned aircraft can deliver everything from consumer goods to emergency medicine. The drones are using sensors and software to fly safely.
"X" as a company is controversial among investors, as Alphabet spent over 3.6 billion dollars on moonshot projects in 2016. However, Alphabet knows that a potential commercial application of a newly developed technology is worth much, much more.