They work by magnetism.
When you first pulse a current through a wire it gives off a burst of magnetic energy... Wrap that magnetic energy in a coil around a ferrite core and put a second coil winding on that core and any time there's a magnetic pulse in the ferrite core an electric pulse will be induced in the secondary coil proportionate to the number of windings in each coil and the frequency of the pulses.
The thing with this is it only works with pulses, so you'll have to use AC current or build some sort of driver, otherwise it'll just act as an inefficient electromagnet with a continuous source of DC.