I'll expand on what BB said -- but add some other stuff from my experience.
The 440 VAC unit is maybe built for 3-phase -- maybe not. First of all you'll need to determine which one of those two choices it is. If it's for regular (called single-phase) you're in luck. All you'd need is a step-up transformer to get your shop 220 up to 440. By the way, once you get above regular household 120 you sometimes get little variations -- like maybe it's 440, maybe it's 480. Check it out -- there are often taps available on or in the unit to allow some adjustment of the input voltage. You'll want to be sure to get this part of the deal correct.
If the 440 unit is built for 3-phase -- well, BB is correct -- but a rotary inverter is pretty inefficient. It's basically a motor (running on what you've got, or, in this case, 220) that's spinning a generator that makes what you want -- in this case, 440 3-phase. It'll be physically big and make a bit (maybe a bunch) of noise, too.
If you want to do the conversion on the cheap I'd suggest you ask your local commercial electrician (guys that work at household levels might not know how to do this) about using the regular single-phase to make "sort of" multi-phase. We had a three-phase motor on the big air compressor at my business - but only single phase was available. The power company and electrician hooked it up using both sides of the single phase as two -- and the neutral leg as the "third" phase. It was inefficient -- but less costly than having a rotary converter spinning, especially since the rotary unit would have to either spin constantly to be available when the compressor needed to come on - or it'd have to be set to come on and up to speed before the compressor could start -- which might be too long for the process.
Ask your local folks or your power company -- they might be able to get the thing running for you without a big hassle.