This paper proposes a new power converter which consists of two identical 3-phase PWM modulators and a novel resonant circuit. A new control strategy is integrated to realize the bidirectional power converter without an electrolytic link capacitor. The power flow between converters is bidirectional and the regenerative braking is inherent. The source side currents maintain sinusoidal waveforms with a unity power factor. It is observed in the experiment that by balancing the active power between the source and load side, the voltage across a small ceramic link capacitor can be maintained within a small deviation from the reference. Simulation results and experimental results are presented to verify the operational principles.