DC micro-grid is gaining increasing attention recently due to its highly efficient energy utilization and flexible energy exchange capabilities. In this paper, an air-coupled DC–DC transformer is proposed for the interconnection between the active load and the DC microgrid. The generic problems in an air-coupled power transfer system without ferromagnetic structure are discussed. A bidirectional half-bridge topology is also proposed to suit the characteristics of the stationary load and to realize the bidirectional power transfer between the active DC load and the DC grid. A Hybrid Modulation Method (HMM) is proposed; the small signal model is derived and linear control techniques are applied to the forward power transfer control, and phase model control is applied to the reverse power transfer model. The open-loop system is simulated by PSIM to get the characteristics of the forward and reverse transfer model, and the closed system is built in the MATLAB/SIMULINK to verify the effect of the forward frequency control method and the reverse phase control method. The prototype is built with a dsPIC controller, tests are performed to evaluate the characteristics of the transformer and the power flow control of the bidirectional power transfer.