Abstract: A power supply capable of transferring power at high current and voltage levels to a load which may be highly inductive. The power supply includes an inverter for receiving DC power and inverting it to an AC intermediate signal. The intermediate signal is rectified by a converter to provide a DC output voltage to a load. Commutation of the controlled rectifying devices within the inverter and converter are provided by capacitors connected across the output terminals of the inverter. The DC output voltage provided to the load is controlled by the frequency of the firing signals provided to the controlled rectifying devices within the inverter. A large energy storage inductor, which may be superconductive, is connected to the inverter and may be utilized to provided the pulses of power required by the load. A converter connected to an AC power system is provided to supply external power and to recharge the current flowing in the energy storage inductor.