Abstract: A wave energy converter (1) has: a buoyant structure (2) which, in use, floats on water; a generator (18); a generator drive mechanism (38) on board the buoyant structure (2), the generator drive mechanism (38) having an rotational input drive shaft (20) and a rotational output drive shaft (36); a drive member (22) operably connected to the input drive shaft (20), the drive member (22) being moveable back and forth between a first position and a second position; a biasing arrangement (23, 26) for example a buoyant block acting on the drive member; and, a submerged element 4, 4? which, in use, moves below the surface of the water out of phase with the buoyant structure (2), the drive member (22) being attached by a tether (28) to the submerged element (4).