E-fuels, also known as Power-to-X fuels, are emerging as a promising solution to decarbonize critical transportation segments such as ships, long-haul aircraft, and heavy-duty commercial vehicles by combining green hydrogen with captured carbon or nitrogen. The production of e-fuels involves electrolyzing water using renewable electricity to create green hydrogen, which is then combined with captured CO2 or nitrogen, resulting in a potentially carbon-neutral fuel. The commercial viability of e-fuels faces challenges due to the high costs of green hydrogen production, CO2 capture, energy-intensive conversion processes, and delivery expenses. The key to success in e-fuel production lies in integrating green hydrogen, carbon or nitrogen, and efficiently converting them in large-scale commercial facilities. Early movers in the e-fuel sector have the opportunity to gain an advantage by sourcing CO2 from low-cost biogenic feedstocks and renewable sources. However, as the demand for e-fuels grows, the availability of feedstocks may decrease, leading to rising costs and the need for policymakers to regulate CO2 sourcing. The report emphasizes the importance of global governments taking a holistic approach to incentivize e-fuel production and ensure scalability. Producers that strategically combine low-cost renewables with biogenic CO2 sources are likely to lead the way in this evolving market. While e-fuels are recognized as a longer-term aspect of the energy transition, companies that act decisively now can position themselves for future success and contribute to a more sustainable energy landscape.