IMPACT is a collaborative research and innovation project which aims to develop and demonstrate a next-generation testing approach for Wave Energy Converters (WECs). The proposed 250kW Dual Hardware-In-the-Loop (DHIL) testing platform is based on a technology which expands the capabilities of the already established Hardware-In-the-Loop technique. The DHIL platform combines together: • one rig for testing the entire drivetrain either linear or rotary, from input mechanical to grid compliant power; • one rig for testing structural components and mooring lines, either in dry or wet environment. The DHIL platform is therefore expected to test subsystems impacting on the 75% of the Levelized Cost Of Electricity (LCOE) of a wave energy converter. The novel methodologies proposed by the IMPACT project reduce the test duration by 50% with respect to a typical endurance test and focus on key aspects such as reliability, performance and survivability. Clear quantitative, test-derived metrics will be produced to characterize these aspects, including also techno-economic and environmental impact assessment of WECs. A test campaign involving subsystems of different device types will be undertaken during the IMPACT project to demonstrate the DHIL testing platform capabilities. A Technical Advisory Board made up of WEC developers will directly benefit of the campaign results and will provide external guidance for making the DHIL testing platform a suitable product for the international market. At the end of the project a novel platform for all the wave energy converter types will be delivered, contributing to a drastic acceleration in their progress through laboratory tests and leading to a rapid advancement from TRL 3 to TRL 5. A publicly released deliverable will describe the project results regarding the novel DHIL testing approach, methodologies and metrics to facilitate their implementation in future testing practices for the development of wave energy technologies.