That's one theory, yes. Cooking food (with fire) makes more calories available, meaning less hunting required to support more individuals, and/or freeing up more time and calories for thinking. This allowed us to evolve bigger and more complex brains.

While it's not a given that fire is a hard prerequisite for an industrial civilization, it certainly accelerated our technological development. Fact of the matter is, we know of exactly one civilization, which is not enough to draw any conclusions. There's no real reason we know of that aquatic species cannot evolve into a technological civilization, we just haven't seen it happen. Fact is we don't really know how an intelligent technological species evolves. We only have guesses from our own history.