Wave energy converters, or "WECs", are devices that extract power from the oscillatory motion of ocean waves. Their technological development began in the late 1970s, but it was quickly overshadowed by the cheaper wind and solar energy. However, there has been a resurgence in WEC interest since the 2010s, as the vast wave energy resource is more predictable, reliable, and power dense than other energy sources. Because of the 30 year delay, wave energy is presently (as of 2026) technologically behind other renewable energy developments. Increasing the efficiency and reducing the risk of this technology is essential for its integration in Blue Economy applications, such as ocean observations and vehicle recharging, as well as the energy grid at large. This thesis has three aims. First, we define a methodology for prototyping lab-scale WEC devices. This validated methodology consolidates WEC prototyping knowledge and streamlines the prototyping process for future researchers. This first aim greatly contributes to risk reduction in the development process, as we assumed this developmental risk to provide lessons learned and concrete guidelines for producing high-quality data. Secondly, we compare a state-of-the-art numerical model to results from the lab-scale experimental dataset to precisely define model shortcomings. In this model and empirical synthesis, two different WEC architectures are analyzed, and the model's validity is quantified. En route to this model validation, a novel multi-architecture WEC array was developed and experimentally tested. This novel array was found to increase the bandwidth of sea states the system can extract power from, while increasing the hydrodynamic response up to 30% for some devices, thereby increasing the efficiency of the WEC array. Finally, the validated numerical model is applied to an ocean-scale use case: the co-location of offshore wind farms and WEC farms. WECs extract power from ocean waves, leaving a low-energy wake downstream of the farm. This low-energy wake can be used as a location for offshore wind farms, reducing the wave-induced fatigue damage on turbines up to 25%. This results in a 2.5 year increase in turbine lifetime, and consequently a 5% reduction in wind farm cost of energy. The coalescence of these aims results in the reduction of risk in WEC research and development, increased efficiency of WEC arrays, and additional benefits of WEC arrays past power production, launching this technology closer to a standardized energy resource.