We investigate a lift based wave energy converter (WEC), namely, a cycloidal turbine, as a wave termination device. A cycloidal turbine employs the same geometry as the well established Cycloidal or Voith-Schneider Propeller. The main shaft is aligned parallel to the wave crests and fully submerged at a fixed depth. We show that the geometry of the Cycloidal WEC is suitable for single sided wave generation as well as wave termination of straight crested waves using feedback control.The cycloidal WEC consists of a shaft and one or more hydrofoils that are attached eccentrically to the main shaft. An experimental investigation into the wave generation capabilities of the WEC are presented in this paper, along with initial wave cancellation results for deep water waves. The experiments are conducted in a small 2D wave flume equipped with a flap type wave maker as well as a 1:4 sloped beach. The operation of the Cycloidal WEC both as a wave generator as well as a wave energy converter interacting with a linear Airy wave is demonstrated. The influence that design parameters radius and submergence depth on the performance of the WEC have is shown. For wave cancellation, the incoming wave is reduced in amplitude by ≈ 80% in these experiments. In this case wave termination efficiencies of up to 95% of the incoming wave energy with neglegible harmonic waves generated are achieved by synchronizing the rotational rate and phase of the Cycloidal WEC to the incoming wave.