Wavekrest Marine Research are an antagonistic organization in the 1989 James Bond film Licence to Kill. Ostensibly a marine research company attempting to feed the third world via genetics, they are quickly revealed to be a front for drug running operations by Franz Sanchez and the Sanchez Cartel.
Wavekrest was founded by Milton Krest during the twentieth century. Krest was an associate of drug lord Franz Sanchez, and so allowed him to use the company to smuggle drugs. The drugs, after being packaged at the company's Ocean Exotica warehouse, were dropped into the sea by Krest's boat (also called the Wavekrest) and picked up by a seaplane from the Sanchez Cartel.
After Sanchez was arrested, his escape from FBI custody was facilitated by corrupt agent and Wavekrest associate Ed Killifer, along with a Wavekrest submarine Sanchez's men kidnapped Felix Leiter, the agent responsible for his arrest, and took him to Wavekrest. Sanchez, Krest, Killifer, Dario and Perez then watched as Leiter was lowered into a shark tank, horribly maiming him.
MI6 agent James Bond, a friend of Leiter's, took it upon himself to kill Sanchez and dismantle his operation as revenge for Felix's torture. He began investigating Wavekrest's Ocean Exotica warehouse, where the drugs were smuggled from and where Felix was lowered into the shark tank. Though Krest told him that they were a legitimate business, Bond broke into the warehouse and discovered the truth. A guard named Bill, who was present during Felix's torture, accosted him and was killed. Killifer, who was unlucky enough to be in the warehouse, was fed to the shark when Bond discovered his corruption.
The next day, Bond sneaked aboard the Wavekrest to stop the next shipment. He discovered that his ally Sharkey was murdered by a diver named Clive and killed him in revenge before stealing his air tank and destroying the shipment. He then escaped by hijacking the seaplane, leaving Krest to explain how he lost the drugs.
Much later, Bond was able to convine Sanchez that Krest was embezzling his money. Having earlier planted a stack of cash on the Wavekrest for Sanchez to find, Bond persuaded Sanchez to kill Krest. Convinced of the truth of Bond's statement, Sanchez threw Krest into a decompression chamber and murdered him. Presumably, Wavekrest went defunct after this, or possibly after Sanchez himself was killed and the cartel destroyed.