A device that converts wave energy to electrical or chemical energy includes a buoy adapted to float on a water surface, a venturi tube, and a rigid or flexible means of connecting the buoy and the venturi tube. The venturi tube defines a lumen through which water flows downwardly when the buoy moves upwardly and upwardly when the buoy moves downwardly. A constriction is formed in the lumen to create a venturi effect for water flowing upwardly and downwardly through the lumen. A turbine is positioned in the lumen at the constriction where water flow is at a maximum rate. The turbine is connected to a generator so that the venturi effect is harnessed to generate power. Multiple embodiments are included.