Carnitine palmitoyltransferase I (CPT I) is an essential enzyme located in the outer mitochondrial membrane. It plays a crucial role in the mitochondrial transport of long-chain fatty acids, which are vital for beta-oxidation and energy production. CPT I catalyzes the conversion of long-chain acyl-CoA into acyl-carnitine, which can then be transported into the mitochondrial matrix where fatty acid oxidation occurs.