Fermentation, Defined
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Fermentation regenerates NAD+ from NADH using an organic molecule as electron acceptor, letting glycolysis continue without any electron transport chain.
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A red blood cell, lacking mitochondria entirely, ferments pyruvate into lactate to regenerate the NAD+ glycolysis needs, with no oxygen or transport chain involved.
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Fermentation's only job is recycling NAD+ — it adds no ATP beyond glycolysis's original two.