The problem as I see it is the lack of an effective power...

The problem as I see it is the lack of an effective power converter. Ceto 5 even with all the development that went into the hydraulic system was inefficient and failed on at least one unit. (see pitchers of erosion in the pump due to exposure to see water on their site) Bosh Rexton has highlighted this as a serious problem with the power converter they are working on. Let’s face it, people have been building water tight, semi submerged buoys for a 150+ years the tech is well proven and CWE could starting manufacturing at any time. The holdup, no effective and reliable power take-off. The only light at the end of the tunnel is the new liner generators, but there are none that are close to the 1 MW output of the new CETO 6 buoy and a lot of R&D stands between us and a commercially available unit L. IMO
For the record I intend to hold and hope to be proven wrong, I’m in too deep to quit now.