The company said an initial test programme will be based around a single 750kW Pelamis P2 device that is currently being built in Edinburgh, Scotland. The device is expected to become fully operational in 2010.
The first year of testing will be an extended commissioning period, with the next two years designed to improve the device's working capabilities.
The new device will be 180m long, around 50m longer than the existing Pelamis P1, and is designed to be considerably more efficient than the first generation device.