NOVELTY - The energy extraction device has floating structure built-in with platform (1) that keeps floating structure in place while allowing floating structure to move up and down as water level changes. The platform is consists of lower and upper structural platforms made from one or combination of metal, non-metal and concrete and fixed into the ground. All inlets, high speed flow compartment (2) and exit compartment (3) are attached to the lower structural platform while the all the equipments and instrumentation are mounted in the upper structural platform that provides working area for the crew.    USE - Renewable energy extraction device for extracting energy from flowing water in e.g. river.    ADVANTAGE - Enables renewable energy extraction device to have a simple and practical design that can be built with no need to sophisticated manufacturing facilities, can be built in different sizes to produce energy for small or large scale applications, can be used as a portable or stationary power generator, built into the ground or floating on water, standalone power generator or a generator to be connected to a power network, can be used to extract wind energy efficiently, can be used to extract energy from river efficiently, and can be used to extract energy from ocean, sea, or a lake efficiently. Enables renewable energy extraction device to be made of components that built locally at affordable cost, with no need to sophisticated facilities and can create quality jobs for local communities. Enables renewable energy extraction device to capture a relatively large amount of flowing water or atmospheric air and increases speed of the captured water or air by decreasing flow cross sectional area in the flow direction. Utilizes energy extraction component to extract energy of the high-speed water or air and then convert it to rotational mechanical energy on the power shaft, with the power shaft always rotating in one direction by rotation direction control mechanism without coming to a stop for ocean application of the renewable energy extraction device. Enables mechanical energy of the power shaft to be transmitted to electric generator, pump, compressor, or any other rotary equipment, and after the extraction of energy, the captured air or water is released to its original source at downstream location.    DETAILED DESCRIPTION - An INDEPENDENT CLAIM is also included for a power generating method for producing renewable energy from flowing air or water.    DESCRIPTION OF DRAWING(S) - The drawing shows the perspective view of the renewable energy extraction device that can be used to extract energy from flowing water.    Platform (1)    High speed flow compartment (2)    Exit compartment (3)    Energy extraction component (4)    Axis of rotation (5)