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A new three-phase multi-level DC-AC converter with three-phase coupled inductors is presented in this work. The related converter is employed only as an inverter here. Initially the power stage diagram and the modulator are shown and discussed. Their main characteristics are described and the more relevant waveforms, generated by simulation, are shown. Next, the operation of the converter with sinusoidal PWM modulation is discussed and some relevant figures are presented. The vectorial interpretation of the line load voltage is shown to all available vectors of load voltage in the new structure. Finally, experimental results obtained from the implemented prototype are presented and briefly discussed.