Raven Industries Inc. (RAVN) has collaborated with Google Inc. (GOOG) to provide high-speed wireless Internet accessibility in rural, remote and under-served areas of the world by utilizing high-tech balloons.
Raven Aerostar, a division of Raven, has been working for several months with Google in a pilot project called Project Loon. The companies will share their technologies in the project, which is still in its early stage.
Search engine giant Google will use the 60 feet tall high-tech balloons designed by Raven as well as its flight control system. The system along with the software developed by Google will direct the path of the balloons. These high altitude balloons carried by the wind will be able to move in the right direction providing high-speed Internet access.
Over the years, Internet has gradually become a necessity. However, a fast and easily accessible Internet connection is still out of reach in the developing nations and rural areas. With the help of this high altitude balloon engineering, people can get improved Internet access.
This improved technology has the potential to change millions of lives through improved medical care, access to knowledge and enriched agriculture. However, the Aerostar segment will continue to face government uncertainty and sluggish demand. This innovation is in line with its attempt to offset government uncertainty by enhancing proprietary technology revenues, including the sale of advanced radar systems, high-altitude research balloons and aerostats in international markets.
In an attempt to obtain benefits of internet connectivity, Raven has also launched a new website recently. Ravenprecision.com, the website designed by Raven Industries Applied Technology Division, will allow its customers to access information from anywhere. The visitors will also get user-friendly experience connecting through Facebook (FB), allowing better rendering of content on a mobile device and eliminates the need for multiple versions of the company site.
South Dakota-based Raven, is an industrial manufacturer providing a variety of products for the agricultural, industrial, construction and aerospace markets. Raven operates through four business segments, Engineered Films, Electronic Systems, Applied Technology and Aerostar.
Raven currently retains a short-term Zacks Rank #5 (Strong Sell). Compass Diversified Holdings (CODI) also belongs to the same industry where Raven operates and holds a Zacks Rank #2 (Buy).
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