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OTTAWA, ON – April 13, 2026 – BluWave-ai announced today that Muhammad Zaheed, Vice President of Finance, has been named a recipient of the 2026 40 Under 40 Award. Jointly presented by the Ottawa Board of Trade and the Ottawa Business Journal, this prestigious honour recognizes the capital region’s most accomplished business leaders who exhibit professional excellence with community impact.
Zaheed’s selection comes at a milestone moment for BluWave-ai as the company celebrates nearly a decade of innovation. Since joining the leadership team, Zaheed has been instrumental in navigating the complex financial landscape of a high-growth AI startup, steering the company through its evolution from a Seed Round venture to a post-Series A global enterprise.
“Muhammad is more than a finance executive; he is a strategic architect of our global footprint,” said Devashish Paul, CEO of BluWave-ai. “His ability to match rigorous financial management with our aggressive R&D goals has allowed us to scale sustainably. Perhaps most impressively, in an industry often defined by volatility, his leadership has ensured that BluWave-ai has never had a single round of layoffs in our 9.5-year history. An innovation company is only a lab without key finance market DNA which is what he brings to our engineering and innovation centric team”
The academic community has also noted Zaheed's impact on the local and international business ecosystem.
“Muhammad represents the high caliber of leadership we strive to cultivate in the Ottawa business community," said Greg Richards, Vice-Dean of Graduate Programs and Head of Business Faculty at the Telfer School of Management, University of Ottawa. "His success in scaling a sophisticated AI company while maintaining fiscal discipline serves as a powerful example for the next generation of business leaders navigating the complexities of the global technology market.”
The cleantech and electricity markets present unique hurdles, often characterized by long sales cycles and slow-moving regulatory environments. BluWave-ai’s ability to remain "layoff-free" is a direct result of a finance strategy tailored to these specific industry pressures.
"Muhammad's inclusion in the Top 40 under 40 list is a testament to the incredible talent and dedication within BluWAVE-ai," said Dr. Pierre Rivard, Board director at BluWAVE-ai. "His leadership and commitment to advancing AI for clean energy solutions are instrumental to our mission, and we are proud to see his contributions recognized on this important stage."
Key Executive Contributions:
“Being recognized among such a talented group of leaders in Ottawa is a profound honor,” said Muhammad Zaheed. “At BluWave-ai, we are solving some of the world’s most pressing climate challenges. My goal has always been to ensure our financial foundation is as innovative and resilient as our technology. The company took a bet on me, when other tech and finance companies passed me over due to my lack of Canadian experience not recognizing my banking and engineering assets from my previous experience in Asia. Here I found a home to transpose those skills to the North American and global financial markets which underpin our tech innovation”
Zaheed will be officially recognized alongside his fellow recipients at the Forty Under 40 gala on June 18 at the Casino du Lac-Leamy.
About BluWave-ai
BluWave-ai is a leader in the global energy transition, offering an AI software platform bolstered by a market-leading IP portfolio of 14 granted patents and 60 total filings. Founded in 2017 and headquartered in Ottawa, Canada, the company is backed by global investors including the Government of Ontario. BluWave-ai optimizes renewable energy usage and costs in real-time for global utilities, IPPs, data centers, and electrified transport. Leveraging a proprietary data moat of over 20 billion grid and weather records, BluWave-ai drives decarbonization while enhancing grid reliability and operational ROI as it rapidly expands its global service territory.
Contact
Brandon Paul, Senior Corporate Marketing Manager, BluWave-ai