A group of high-powered businessmen and scientists have formed a new company aimed at establishing nuclear power plants in South Australia, reports The New Daily.

The company, known as South Australian Nuclear Energy Systems Pty Ltd, is chaired by merchant banker and former News International director, Bruce Hundertmark.

The New Daily reports that the company is developing a business case for getting the Federal and South Australian governments to amend laws, including the Commonwealth Biodiversity Act, which prohibit nuclear power generation in Australia.

“According to documents filed with the Australian Securities and Investments Commission, the business was established in December last year – three months before the South Australian election which the Liberal Party had been expected to win.

“It appears that the company’s ambitions were dealt a blow by the poll result, but recent announcements by Prime Minister Tony Abbott may have renewed hopes of government support for its strategic plans.

“The federal government allocated $2.5 billion in the May budget to fund clean energy initiatives, including “clean power stations”.

“At the launch of a new consulate in Houston, Texas on June 13, Mr Abbott stated that the Australian government ‘did not believe in ostracising any particular fuel’.”

Read the full story here.