Abstract: A device for extracting energy from water waves comprises high-level and low-level reservoirs with non-return valves for permitting water from wave crests to enter the high-level reservoir (but not return) and for permitting water from the low-level reservoir to escape as a water wave trough passes but preventing entry of water from the crests into the low-level reservoir. The non-return valves operate over a vertical extent and are such as to accommodate the variation in time with depth at which water pressure changes from high on one side and low the other to low on the one side and high on the other.