Google lets Dandelion go free
Google’s geothermal energy startup, Dandelion, is going its own way. Until now, the company has existed as a division of Alphabet’s moonshot accelerator X, despite the fact that its parent company has kept tight-lipped about it. According to the company’s CEO Kathy Hannun, the split is coming because there is simply not enough “overlap between its technology and that of other parts of Alphabet to justify remaining a part of Google’s parent company.”
Alphabet’s share price has risen by 21% so far this year
SOURCE: Yahoo Finance
Dandelion has as its mission statement the goal of making it more affordable to install geothermal energy systems for homes – something that relies heavily on drilling technology. Explaining the split from Alphabet, Hannun says: “as you can imagine, drilling technology is not a core focus of Alphabet.”
Some of Alphabet’s other businesses have greater synergy with its interests: DeepMind and Waymo are both deeply invested in the trend towards artificial intelligence. Dandelion does, however, have one thing in common with its soon-to-be-former parent company: smart homes.
The application of geothermal energy sources to smart home technology is an obvious area of overlap between the companies, and it’s something that Dandelion CEO Hannun isn’t willing to rule out. She said: “We’re friendly with Nest. It’s possible we’ll work with them in the future.”
Dominion holds Alphabet in its Global Trends Ecommerce Fund.
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