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Need a 1phase to 3 phase rotary converter for a 7.5 HP lathe. Any help appriciated.

Hi. As you may know already, a store bought unit can be real spendy. You can readily make one using a 3 ph. motor of higher HP than your motor. Hundreds of them are in use. Do a Google search for "DIY phase converter".

You may already know this but a regular 3 phase electric motor can be configured to provide 3 phase power with only a single phase power source.
You'd need to get a 10HP 3 phase motor as your converter. You connect one of the phases to your regular 220V single phase power source. The single phase will run a 3 phase motor but will not start it so many people put a wooden pulley on the 3 phase motor shaft and use your foot to spin the pulley to start the motor. You only need a little spin to get it started.
The output from this motor will be 220V 3 phase which will run your 7.5HP motor just fine.
Used 3 phase electric motors are cheap and plentiful and once running they work precisely like the expensive rotary converters.
The exact wiring is too complicated to explain here but there is plenty of info about doing this available on the net. You may want to look at some woodworking websites like finewoodworking.com to get precise instructions.
Hope this helps.

Thank you very much, that idea sounds affordible.