Hello, I'm Paul Mueller, President and CEO of HNO International. We design, integrate, and field hydrogen infrastructure projects, bringing hydrogen closer to the users and reducing the overall cost. We're excited about our approach because one of the problems that's going to impede the introduction of the hydrogen economy is the availability of hydrogen infrastructure. So, we believe that we're out in front and are able to provide the infrastructure that will help draw the hydrogen equipment into the economy.
We anticipate the growth of the industry to be over 50% compound annual growth rate over the next five years, and to really get that kind of growth, we need to have the availability of clean, green hydrogen for industrial and other emerging purposes. The advantage is it's a wide-open market, and a lot of emerging technologies, along with older technologies, are being applied to this new hydrogen eon. The benefit is that the market's pretty wide open; the challenges are that there isn't a lot of experience with the market and therefore, as a small business, we're learning a lot as we go through this.
Regulations are changing, the market's changing; no longer is hydrogen going to be the purview of major industrial producers but as we are looking at it, regional production and local distribution will be the kind of catalyst that gets that infrastructure going and allows the evolution of long haul logistics away from diesel to hydrogen-powered engines and those types of applications we see as very exciting.
The problem is if you're the first one there, then you're kind of blazing the trail. So, I think one of the things that we really appreciate about industrial associations like the United States Hydrogen Alliance is that it brings some credibility to the small businesses. It gives us a place to come to look for advice on how this market is emerging, especially with new regulations from the Department of Energy and the US government, and evolving regulations at state and local levels.
The challenges are staying abreast and finding the right partnerships that help us address those challenges as we go. You need technology and emerging; the recipe for success for small and medium-sized businesses is really clarity around what you're trying to do. Technologies are interesting, and you can have small business entities involved in different technologies, but the real key to success is being focused on your mission, vision, and values. Know what it is you're trying to do, understand your market, and then be true to that vision as you implement it. That's regardless of whether it's an emerging market such as hydrogen, where there are a lot of dynamic moving parts, or if it's just a stable small business. The best advice I can give is know who you are, stick to your knitting, and know your market and be present.
Watch the interview below: