TL;DR: Have I Been Pwned is for sale and is being renamed Project Svalbard. Troy is looking for buyers that will keep the service free, and he'll go work with the buyer.
AIUI, “Project Svalbard” is the name of the project to find a new home for HIBP. The actual service isn’t being renamed (yet).
It is indeed common to have a "project name" when buying/selling a company - but in my experience that has always been largely for reasons of secrecy, so it is a bit odd in this case.