This document discusses Eel Energy, a company developing an innovative technology called an "undulating membrane" to harness energy from ocean currents. The technology is inspired by marine species and aims to produce more renewable energy at lower cost and with less environmental impact than traditional turbines. Eel Energy's undulating membrane is designed to optimize energy transfer, reduce drag, and exceed the Betz limit for energy extraction from winds or currents. The company's roadmap involves building progressively larger prototypes to be tested in pools and at sea, with the goal of installing a 1:1 scale demonstrator in 2014. Eel Energy is partnering with research organizations and material companies on development and seeks investors and licensing deals.