This work studies a multilevel inverter topology composed of two MPUC7s cascaded connected fed by only one dc power source by using a high-frequency link (HFL). This topology can provide up to 49 voltage levels by using four asymmetrical dc links, 12 power switches, and an HFL system. The dc link with higher voltage is fed by a dc source. The other dc links, with lower voltage, are supplied from the main one via high-frequency transformer with unidirectional power flow that processes up to 33% of the load power. A nearest-level control, analysis of power distribution among each dc link, and the HFL system design are presented in detail. Besides, comparisons with other multilevel topologies using HFL are carried out. Experimental results are presented to validate the theoretical studies.