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This work reviews the advances in the development of CECO, a wave energy converter (WEC) of the floating oscillating bodies subgroup that has its motions and power take-off system (PTO) restricted to an inclined direction. For this purpose, the review is conducted on the basis of the Technology Readiness Levels (TRLs), the most frequently used metric to assess the maturity of a technology. The main conclusions and milestones of each stage are also presented along with an introduction to the ongoing works and a general picture of future research lines.