Google spun out a new company that heats your home with geothermal energy

X, the "moonshot" division of Google's parent company Alphabet, has spun out a new geothermal heating and cooling company $4, the company announced Thursday.

Dandelion comes from a previously undisclosed project at X that began two years ago. It'll be run as a separate company outside the Alphabet umbrella and has raised $2 million in funding.

Dandelion claims it can affordably drill and install geothermal systems to heat and cool homes, which is usually a very expensive process. The company is based in New York City and plans to provide services to qualified homes in New York state.

X works on several moonshot projects for Alphabet, including delivery drones, high-altitude balloons that beam internet to earth, and wind turbines that generate power. Waymo, Google's former self-driving car division, spun out of X last year as a new company under Alphabet.

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