This document summarizes a research paper on designing a flexible highly efficient transformer (HEART) for use in smart grids. The HEART uses power electronics to provide voltage transformation, galvanic isolation, and power quality improvements. It consists of an AC to DC rectifier, buck converter for voltage regulation, inverter to produce high frequency AC, and a matrix converter. The matrix converter can perform AC-AC, AC-DC, and DC-AC conversion with bidirectional power flow. This allows the HEART to interface high and low voltage DC power grids and regenerate energy back to the grid. It is more compact than traditional transformers and can be controlled remotely using IoT.