Buckyballs are also known as Buckminsterfullerenes. The name is derived from Buckminster Fuller who designed something he called geodesic domes, from the Wikipedia entry (Note: Links have been removed),

Buckminsterfullerene (or bucky-ball) is a spherical fullerene molecule with the formula C60 [C = carbon; 60 is the number of carbon atoms in the molecule]. It has a cage-like fused-ring structure (truncated icosahedron) which resembles a soccer ball, made of twenty hexagons and twelve pentagons, with a carbon atom at each vertex of each polygon and a bond along each polygon edge.

It was first generated in 1985 by Harold Kroto, James R. Heath, Sean O’Brien, Robert Curl, and Richard Smalley at Rice University.[2] Kroto, Curl and Smalley were awarded the 1996 Nobel Prize in Chemistry for their roles in the discovery of buckminsterfullerene and the related class of molecules, the fullerenes. The name is a reference to Buckminster Fuller, as C60 resembles his trademark geodesic domes. Buckminsterfullerene is the most commonly naturally occurring fullerene molecule, as it can be found in small quantities in soot.[3][4] Solid and gaseous forms of the molecule have been detected in deep space.[5]

Here’s a model of a buckyball,

Courtesy: Isis Innovation (Oxford University)

An April 15, 2014 University of Oxford (Isis Innovation) news release (h/t phys.org) describes the news research and some technical details while avoiding any mention of how they’ve tackled the production problems (a major issue, which has seriously constrained their commercial use),

The firm, Designer Carbon Materials, has been established by Isis Innovation, the University of Oxford’s technology commercialisation company, and will cost-effectively manufacture commercially useful quantities of the spherical carbon cage structures. Designer Carbon Materials is based on research from Dr Kyriakos Porfyrakis of Oxford University’s Department of Materials.

‘It is possible to insert a variety of useful atoms or atomic clusters into the hollow interior of these ball-like molecules, giving them new and intriguing abilities. Designer Carbon Materials will focus on the production of these value-added materials for a range of applications,’ said Dr Porfyrakis.

‘For instance, fullerenes are currently used as electron acceptors in polymer-based solar cells achieving some of the highest power conversion efficiencies known for these kinds of solar cells. Our endohedral fullerenes are even better electron-acceptors and therefore have the potential to lead to efficiencies exceeding 10 per cent.

‘The materials could also be developed as superior MRI contrast agents for medical imaging and as diagnostics for Alzheimer’s and Parkinson’s, as they are able to detect the presence of superoxide free radical molecules which may cause these conditions. We are receiving fantastic interest from organisations developing these applications, who until now have been unable to access useful quantities of these materials.’

The manufacturing process, patented by Isis Innovation, will continue to be developed by Designer Carbon Materials as it also makes its first sales of these extremely high-value materials.

Tom Hockaday, managing director of Isis Innovation, said: ‘This is a great example of an Isis spin-out which is both looking at exciting future applications for its technology and also answering a real market need. There is already significant demand for these nanomaterials and we expect the first customer orders will be fulfilled over the next few months.’

Investment in the company has been led by Oxford Technology Management and the Oxford Invention Fund. Lucius Carey from Oxford Technology Management said: ‘We are delighted to be investing in Designer Carbon Materials. The purposes of the investment will be to move into commercial premises and to scale up.’

Isis Innovation is a University of Oxford initiative and you can find out more about Isis Innovation here. As for the new spin-out company, Designer Carbon Materials, they have no website that I’ve been able to find but there is this webpage on the Isis Innovation website.