The Wave Net project seeks to address these primary issues, and involves the European Commission and 14 project members. Each of the 14 members are managed by a coordinator and assisted by a steering committee of three other members. It is therefore envisaged that this coordinated approach will provide a pool of shared ideas and experience, which should optimise group financial resources. The primary objectives of this project were to address the important scientific, technical and economic aspects for wave energy conversion, which resulted in a 500 page technical report. The report contains a detailed set of results of 26 deliverables carried out by the 14 network members and is available online at the Wave Net web site: http://www.wave-energy.net Each member was responsible for a series of tasks, which were divided into six specific areas. They are, Integration with electricity grids, Social planning and environmental issues, Financing and economic issues, Device-specific R&D, Generic R&D and Promotion of wave energy. These tasks had a variety of outputs, and were disseminated via conferences and constitute the content of the detailed report. The identified results of the Wave Net Project are: the barriers to wave technology, the credibility of wave energy and the promotion of cooperation with the electrical power industry. Additional results include the rates of return that should attract private sector funding, the collation of existing generic technologies and the promotion of wave technology in general. Hence, the pooled resources have thus enabled the combined resources to be disseminated to a much wider audience further promoting the future benefits that wave energy has to offer. This much more efficient and European unified approach may also set the standards for other pan-European projects, so that they too will benefit from community wide shared knowledge.