A Fuel cell stack inherently generates low unregulated voltage, which is not useful for most power supply applications. In order to make this voltage useful, often a power conditioning system that consists of a converter or inverter or a combination of both is connected intermediate to the fuel stack. Several topologies for converters and inverters exist. In this paper, the performance of a transformerless pulse width modulated dc-dc interleaved boost voltage multiplier converter with current ripple reduction capability is analyzed for PEMFC stack power conditioning applications. Key experimental results are included, which indicate that the stack output voltage was regulated and boosted, and highlight the voltage balancing challenge arising from interleaving.