This paper describes one of the innovative wave energy converters under development by the Lancaster University Renewable Energy Group. An offshore point-absorber wave energy converter, PS Frog Mk 5 consists of a large buoyant paddle with an integral ballasted ‘handle’ hanging below it. The waves act on the blade of the paddle and the ballast beneath provides the necessary reaction. When the WEC is pitching, power is extracted by partially resisting the sliding of a power-take-off mass, which moves in guides above sea level. Totally enclosed in a steel hull, with no external moving parts, PS Frog Mk. 5 is at least as robust as a ship and the survivability of the device is currently under investigation, though such work is beyond the scope of this paper. Such a device could be very economic in terms of power output per unit of capital cost. New inventive steps with experimental results and computer studies have led to promising improvements to the hull shape. The WEC is maintained in a resonant state by the use of special means to maintain a high dynamic magnifier in irregular seas. A robust feedback control system has been developed to ensure stability and maintain efficient power take-off. Some of these developments are described and illustrated with the results of computer simulations that show power outputs and device motion over a range of conditions. It is shown that useful advances have been made, with the power capture bordering on 2 MW in an increasing proportion of sea states.