Investment in wave energy continues to surge, and Israel's SDE Energy wants to be a major player. The company is expanding into Africa with a $100 million 100 megawatt system that will generate $1 billion in revenue over the next 25 years.

SDE has patents on technology for generating electricity from waves, as well as for storing energy for later use. In Jaffa, Israel, SDE operates their first of eight commercial installations, which combined total of 40 kilowatts of power.

Several hundred miles to the north in Europe, plans are underway for an underwater "supergrid" under the North Sea to accommodate the expected investments in wave and wind energy there.

The World Energy Council, which has been following wave energy technology since its start in the 1970s, notes that wave energy, while not yet fully economic efficient, promises great hope for clean energy supplies.