AquaVenture Holdings Limited announced executive team changes that represent the culmination of a planned succession led by its founder CEO to the next generation of leadership. The following changes capitalize on the strength of the Company's executive team, while ensuring continuity during the transition: Douglas Brown will step down from his role as Chief Executive Officer of AquaVenture Holdings and Seven Seas Water effective at the end of 2018. Mr. Brown will remain as Chairman of the Board of Directors.

In addition, Mr. Brown will continue to serve in a full-time capacity, focusing on contributing to the execution of its M&A efforts. Anthony Ibarguen will be promoted to the role of Chief Executive Officer and President of AquaVenture Holdings effective January 1, 2019. Mr. Ibarguen has held the role of President since 2014 and he will remain on the Company's Board of Directors.

Mr. Ibarguen will also retain the role of Chief Executive Officer at Quench, which he has held since 2010. Lee Muller will continue in his role as Chief Financial Officer of AquaVenture Holdings and Seven Seas Water. The Company also announced the following promotions within its Seven Seas Water operating platform, which are effective January 1, 2019: Olaf Krohg will be promoted to Chief Executive Officer of Seven Seas Water.

Mr. Krohg has been with the Company since 2016. He spent ten years as the CEO of two Boston-area technology companies and is a former Partner at Advent International. He holds degrees from Boston University and Harvard Business School.

Frederick Hung will be promoted to President of Seven Seas Water. Mr. Hung has been with Seven Seas Water for more than 20 years, and was a co-founder of Seven Seas Water, U.S. Virgin Islands, which was AquaVenture's first acquisition in 2007.