An electric converter is provided which uses independently controlled field coils to impress a temporary magnetic field on a rotor movable relative to one or more armatures. In some embodiments, the rotor of the programmable electric converter is rotatable with the axis of rotation being on a horizontal or vertical axis. In various embodiments, the electric converter disclosed herein may be adapted for use as a continuous power solution to provide power for a limited period of time in the event of a power outage by absorbing energy and storing it mechanically in the rotor. In some embodiments, the electric converter may be utilized as a generator. In some embodiments, both AC and DC could be simultaneously produced, where AC is generated in one armature coil and DC in another coil. In some embodiments, the programmable electric converter can operate as an AC to AC converter, AC to DC converter, DC to AC converter, or DC to DC converter. In some embodiments, the electro-magnetic converter may be utilized to provide electro-magnetic propulsion to provide precise acceleration profiles and capture regenerative braking energy.