A new class of Wave Energy Converter (WEC) is presented — the Floating Pendulum Dynamic Vibration Absorber (FPDVA). This concept offers significant design benefits to other WEC technology in the form of low cost installation and mechanical moving components located above the waterline only. The key elements of the FPDVA concept are highlighted. The performance of the concept is demonstrated through numerical modeling with calibration of the numerical models via physical tank testing. The Power Take Off (PTO) system is described, and the bench tests are presented. A discussion about the control systems required to operate the FPDVA system and the likely floating body mooring configurations are also presented. The technology has patent pending status. Future phased development of the technology is planned to progress its Technology Readiness Level (TRL) status from TRL 4 to TRL 9.