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Efficient power conversion for high-power applications is one of the biggest issue for decades. Multilevel power converters are used for efficient high-power conversion and one of the preferred choices for industry and academia. Currently these multilevel converters are used in many applications such as pumps, fans, grinding mills and extruders. Basic multilevel converters have three topologies: Neutral Point Clamped (NPC), flying capacitor (FLC), and cascade H-bridge. Because of its wide industrial application, researchers all over the world are working to improve its efficiency, reliability, cost, power density and simplicity of multilevel converters.