Wave energy converter
Wavebob was a wave energy converter which was in development between 1999 and 2013 when the company was closed owing to funding difficulties.
The device was an axisymetric self-reacting heaving buoy point absorber. It consisted of two oscillating structures, a floating collar or torus which followed the motion of the waves, and a central section containing the power-take-off at the top and a buoyancy-controlling tank below the water. 
Wavebob Ltd. commenced the first of a number of sea trials in Galway Bay in Ireland during which it was tested as a 1/4 scale device for short periods at the SEAI 1/4 Scale Wave Power Testing facility which is located in the inner bay inside the natural Aran Islands breakwater and where devices under test are exposed to around 1/3 of the expected energy of the 'Full Atlantic Ocean'.
Technology.
Wavebob used the lift and fall of ocean waves to drive generators 
The Wavebob consisted of two oscillating structures. These structures must be able to absorb in a variety of conditions and be robust to survive in the harsh marine environment. The structures are controlled by a damping system that can respond to predicted wave height, wave power and frequency. The tank structure (a semi-submerged body) uses captured sea water mass as the majority of its inertial mass. This significantly reduces the cost associated with structural materials.
The technology was developed over a decade, including tank testing at 1:100, 1:75, and 1:25 scale, benign sea conditions at 1:17 scale, and finally two sets of advanced development model (ADM) tests at 1:4 scale in Galway Bay. The first (ADM1) in 2006 produced power at sea for the first time, and the second (ADM2) in 2007 confirming the capability in a range of sea conditions.
Wavebob developed its business through an Open Innovation Model and was partnered with leading energy companies such as Chevron and Vattenfall. It briefly established a joint venture company with Vattenfall called Tonn Energy to develop commercial wave farms off the west coast of Ireland; is the Irish language word for wave.
Company milestones.
1999: Original patents filed
2007: CEO appointed; head office in Maynooth established
2013: Company Closed Down.