CalWave is developing a wave energy converter (WEC) called xWave, which operates fully submerged and is classified as a submerged pressure differential type. As ocean waves pass over the submerged wave buoy, a pressure differential is created, exciting the absorber in multiple degrees of freedom to oscillate in resonance with the ocean waves. Energy is efficiently extracted using multiple independently controllable power take-off (PTO) units. Based on CalWave's 2 body WEC technology, multiple improvements on absorber geometry and PTO controls have been achieved. This submission includes a final report including results and conclusions of the New Technology Qualification (NTQ) review of CalWave Power Technologies Inc's xWave technology, performed by American Bureau of Shipping. Project is part of the TEAMER RFTS 3 (request for technical support) program.