vCloud is a cloud computing initiative from VMware which will allow customers to migrate work on demand from their "internal cloud" of cooperating VMware hypervisors to a remote cloud of VMware hypervisors. The goal of the initiative is to provide the power of cloud computing with the flexibility allowed by virtualization.
At the 2009 VMworld conference in San Francisco vCloud was featured in the vCloud Pavilion. vCloud was also a subject at the 2010 conference. The vCloud initiative has grown with many public service providers and multiple supporting applications.
vCloud architecture relies on vShield edge for its operation, routed networks in vCloud needs a VM running vShield-edge software, acting as the default gateway of that network. This virtual gateway is implemented on a free host on the system and provides its services to VMs on that host and on other hosts.
vCloud Air (formerly vCloud Hybrid Service)
vCloud Air is VMware’s IaaS service, launched in May 2014 as vCloud Hybrid Service  vCloud Air provides hybrid cloud — a public IaaS that functions as an extension of existing data centers running VMware vSphere, with common management and networking. It is currently offered in the following locations: Northern California, Nevada, Texas, Northern Virginia, UK and Japan West. VMware has also announced future availability in Australia and Germany. 
If business rules require that some business critical or sensitive systems remain on self-owned infrastructure the user can simply move less sensitive systems to the public cloud and free up resources on the user’s own infrastructure.
vCloud Hybrid Service was rebranded to vCloud Air on August 21, 2014. With the rebrand of the service, they also announced an On Demand program  that allows users to pay only for what each user needs to use for resources.