The transformer idea seems safest so far but also probably difficult to make/get. I would like to get the theory on a tranformer solution before i try to make one. Preferably with less than say 50 turns on either side.
How about a 5,5Ohm resistor ? 0,43A*5,5Ohm = 2,37 V ; 0,43*0,43*5,5 =1 Watts
Or a coil that would need to generate 5,5Ohm reactance. How would that work if I put a LED in series with a current limeting resistor in parallel with such a coil. Would that work?
Or can some clever high power semiconductor be used to solve this problem? Some sort of diac or something? That could generate the voltage over itself as it passes this ~0,5A thru it. This magical component should of course need to not heat up very much.