Project Loon is a initiative of Loon LLC. It is subsidiary company of Alphabet Inc.
This project aims to provide internet and mobile network coverage to rural and remote areas, for this company uses high-altitude balloons in the stratosphere at an altitude of 18 km to 25 km from earth. And it creates an aerial wireless network with up to 4G-LTE speeds.
They are going to achieve this by redesigning the essential components of the cell phone tower and placing them in a balloon which will carry it in the stratosphere up to an altitude of 25 kilometers above the earth.
So by having a network of balloons this project aims to expand the internet and mobile network access. it can also provide quick coverage to a location that is affected by natural disasters, thus it has tremendous potential to save human life.