It’s called CloudReady
Old laptops can be given a second life. There are various ways to do this, and one of them is Chrome OS.
Give a second life to your old PC. Google buys Neverware, whose software allows you to install Chrome OS
Google has reportedly acquired Neverware, which has created CloudReady software that allows Chrome OS to be installed on older PCs (of course, and not only). It is known to be much less demanding on performance than Windows 10, so older computers in this form should run significantly faster.
CloudReady is now part of Google and is officially backed by the search giant, which means the project can get better and better.