Where did the 500 CFM number come from? Fan size/HP is dictated by volume and static pressure. These are dictated by hooding design, ducting, face velocity, airstream temperature, etc. Source capture is more efficient- requires less air volume than air change methods,etc. Industrial Ventilation Handbook has valuable info. The fan selection is the easy part - check out
for a starting point, from there you may have to go to manufacturers like New York Blower or Cincinnatti Fan if special construction is needed (corrosion or explosion proof motors, etc). Sales reps for these companies may be able to provide insight into material selection, etc, but the other half of the equation is how you utilize the fan.