The power conversion system allows for multiple segregated and ground independent power sources to provide redundant power to modules within an electronics equipment cabinet with increased reliability and reduced sensitivity to common fault propagation. The power conversion system provides power conditioning modules having independent supply rails that supply power to each module within an electronics equipment cabinet. FET and diode solid-state control and driver logic enable each individual supply rail. Efficient power distribution is facilitated by primary and hot-backup operation of one or more power conditioning modules. Power conversion is facilitated by one or more input supply power feeds and one or more converter stages.