Alphabet to make Loon, Wing projects independent companies

A Google Project Loon internet balloon is seen at the Google I/O 2016 developers conference in Mountain View, California May 19, 2016. REUTERS/Stephen Lam

Google parent Alphabet Inc's X research division said on July 11 its Wing and Loon projects will become independent companies.

Project Loon makes Internet-delivery balloons, while Project Wing is a drone delivery system.

Alastair Westgarth will become chief executive officer of Loon and James Ryan Burgess will be the CEO of Wing.

The companies will now be part of Alphabet's Other Bets division, which already comprises cybersecurity company Chronicle, self-driving car project Waymo and life sciences division Verily. — Reuters