Google parent company Alphabet is discontinuing the Loon company, which produced internet balloons to offer an alternative to building telecom masts.
Loon announced this on Friday in a message on blog service
Loon wanted to use large weather balloons equipped with mobile antennas to bring the internet to areas that are difficult to reach in other ways.
The company wanted to offer a worthy alternative to building telecom masts.
The balloons were brought from a launch station to a height of about 20 kilometers.
There they sailed on the wind currents.
In addition to transmitting equipment, the balloons were also equipped with a battery and solar panels.
Although Project Loon's technology proved successful, producing the balloons was not financially viable, the company now reports.
The balloons cost tens of thousands of dollars and last only five months.
"While we have found some investors along the way, we have not found a way to keep costs low enough to build a sustainable business in the long run," said Loon CEO Alastair Westgarth in the blog post.
Alphabet director Astro Teller said Loon has delivered "breakthrough technical achievements" over the past nine years.
"Despite this, the road to commercial viability turned out to be much longer and more risky than hoped for."
Loon was created in 2011 within Google's experimental department X. Seven years later it became an independent company under the umbrella of parent company Alphabet.