Abstract: An adaptive AC power exchanger generates stable 120 VAC 60 Hz power from variable grid input power nominally at 220 VAC and 50 Hz. The exchanger includes an AC-DC circuit stage coupled to receive the input AC current and generate a VDC output, and a DC-AC circuit stage to generate power for a load. The AC-DC stage includes an EMI filter and surge protection circuit, a 50 Hz rectifier and a power factor correction (PFC) circuit controlled by a PFC controller to yield a 400 VDC output coupled through a bulk capacitor stack to a common connection to generate a 200 VDC voltage node. The 200 VDC and 400 VDC voltages are coupled to the DC-AC circuit including a pulse width modulator; current load limiter; an LC filter having a capacitor, dual inductors and an inductor by-pass relay; and a load disconnect relay all controlled by an AC bridge controller.