Key West-based marine biological research entity run by Milton Krest (ANTHONY ZERBE) in Licence to Kill. Although their genetic research into ocean life forms is supposed to help alleviate the Third World’s hunger problem, Krest is really just another drug runner, working for Franz Sanchez (ROBERT DAVI).

Operating with a fleet of smuggling vessels and aircraft, Wavekrest is Sanchez’s primary drug distribution outlet in North America. Escaping from Drug Enforcement Administration units, Sanchez holes up in the Wavekrest warehouse in Key West, where he orders captured CIA agent Felix Leiter (DAVID HEDISON) thrown into a shark pen. Thanks to revenge seeking James Bond (TIMOTHY DALTON), the same pen later claims the life of traitorous DEA agent Killifer (EVERETT MCGILL).