January 05, 2013 Category: Business & Corporate Law
Scientific advancements have greatly benefited society in a variety of ways. Science has made life easier, while also providing lucrative business opportunities for others. Entrepreneurs who are able to find their specific niche may also be able to start a new business and capitalize on their innovative ideas with effective business planning . One man in Michigan decided to do this in 1991 with his research company that specializes in developing technology and engineering uses for hydrogen.
The company, called REB Research, aims to research and design a variety of possible uses for hydrogen. One such design includes a hydrogen airplane that can stay in the air for days at a time. The firm is also working on other designs like hydrogen-powered generators and stations for refueling automobiles.
The firm’s work is mainly based around creating a new kind of membrane made of metal, which will be an important product for hydrogen refining. The owner of the company first moved to Michigan in 1981 as a result of landing a teaching job at Michigan State University. He had always been fascinated by hydrogen and all of its properties and potential uses.
The man started the new business by taking advantage of the low commercial real estate prices in Michigan. For $35,000, the man was able to purchase a 1,000 square-foot building. He was also required to make sure he would be fully compliant with city ordinances and any other applicable rules and regulations for his industry. Others in the area who are entering their own stages of initial business planning may wish to take similar advantage of the benefits that starting a company in Michigan can offer.
Source: SeMichiganStartup.com, ” Finding A Hydrogen Future ,” Patrick Dunn, Dec. 21, 2012