Alphabet’s X to Launch New Geothermal Energy Company

Alphabet Inc (NASDAQ:GOOG,NASDAQ:GOOGL) announced that its “moonshot” division X is launching a geothermal company.

AlphabetThe new company will be called Dandelion and it will operate outside the Alphabet companies. It will consist of a geothermal heating and cooling company that has already raised $2 million in funding thanks to Collaborative Fund, an early-stage venture capital firm.

Dandelion aims to make heating and cooling systems more affordable and accessible to consumers without sacrificing quality. CEO Kathy Hannun said the company “knew if installing a geothermal heat pump was a simpler and more affordable process… homeowners would have access to a better product that’s also better for the climate.”

A heat pump would be placed inside your house as part of the geothermal system, which is known as a “ground or earth loop.” The technology works by absorbing the heat and dumping it into the ground when it’s hot, or absorbing heat from the ground and sending it to your house when it’s cold.

Other projects that X is involved in includes delivery drones for Alphabet, high-altitude balloons that send Internet to Earth, wind turbines that generate power and more. Its self-driving car division Waymo was spun off last year.

GOOG stock surged 1.6% Friday, while GOOGL shares grew 1.8%.


Article printed from InvestorPlace Media, https://investorplace.com/2017/07/alphabets-x-geothermal-googl/.

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