Just curious what a phase converter does, how it's wired so you can use 3 phase machines with it, etc.. Thanks
Depends on what type, a static uses caps to start a 3Ø motor & then it single phases the motor, losing 1/3 of the rated HP.
A single phase input VFD up to 3 HP can take 240V 1Ø & convert it to 208 or 240V 3Ø & 1 HP units can be bought w/ a 120V input. Above 3 HP, in most cases a 3Ø VFD would have to be derated 50%.
The 3rd option is a RPC, rotary phase converter which can be bought from numerous vendors or self built, this will enable more 3Ø equipment to be ran & be most likely cheaper for more 3Ø tools.
A couple of places to search for more info is the Practical Machinist or Old Woodworking websites
PM has a forum for this:
http://www.practicalmachinist.com/vb/transformers-phase-converters-vfd/
OWWM has a electrical forum that is visible to registered users, there are limits as to what is allowed to be discussed, but those subjects out of bounds can be brought over to the electrical forum here.
www.owwm.org
This is just a small amount of the info avail. on the web.