Sept. 30, 2021

Google parent company Alphabet Inc. decided to wind down its efforts to use stratospheric balloon technology to deliver internet service to remote areas of the world, but partner Raven Industries has acquired much of the intellectual property related to the program.

Known as Project Loon, it developed an autonomous constellation of high-altitude balloons for communications.

In May, Raven acquired 176 assets related to stratospheric balloon technology, including balloon navigation, launching operations and balloon manufacturing, the company announced today.

“For the past nine years, Raven partnered with Loon on the development of this unique technology. Loon launched and navigated thousands of balloon platforms to help serve its mission. In parallel, we leveraged the Loon partnership and our 60-year history of balloon expertise to design and build our Thunderhead stratospheric platform,” Jim Nelson, division manager of Raven Aerostar, said in a statement. “Having the technology under one house is exceptionally valuable, especially as demand for our solutions continue to increase.”

Earlier this month, shareholders of Raven Industries Inc. approved the company’s pending acquisition by London-based CNH Industrial N.V. It’s expected to close next quarter. CNH purchased Raven for its applied technology division, which serves the agriculture market, making the fate of Raven’s engineered films and Aerospace divisions less certain.

This summer, Raven CEO Dan Rykhus sounded hopeful both would continue to maintain a presence in Sioux Falls.

“Those are likely to be eventually owned by somebody else, but they’re rooted here,” he said, adding that the infrastructure and team to support the operations are located in and around Sioux Falls.