OK, I'm confused. Waves do have a lot of energy, look what happens when they hit shore, especially a breakwater. And the motion of any single particle in a wave is circular, in the vertical plane. I got that. Also a spring, when it's compressed stores energy, and when it relaxes releases that energy. I also know that if you can develop differential motion, a spring between the horizontal fin and the hull can be compressed.
What's confusing me, is how in the middle of the ocean, where the period of waves can be fairly long, how does that fin get compressed? As the hull goes up so would the fin. In my experience the hull rides the wave, unless the slope is abrupt (big seas.) Also, in a calm, I guess you'd just sit there. To propel a boat of that size, you'd need some BIG springs,and they wouldn't compress easily. Just help lift the hull, I would think.
As to a dolphin, that tail doesn't absorb energy from a wave, it imparts energy, just as an oar does.Thus they can swim underwater, where there are no waves.
Anyway, if that guy can get enough energy out of open ocean waves to propel a boat across the ocean, I'm impressed. Power generation techniques have been proposed by anchoring cables to the bottom of the ocean, and letting wave driven floats provide the force and motion to generate electrical power; but that boat is free floating.
Boris