Now remember, if oxygen is not present, then pyruvate will go through anaerobic respiration. Here, without oxygen, pyruvate is redirected through fermentation. So, we take a look here, we have glycolysis, where fermentation is the generation of energy in the absence of oxygen. In the absence of oxygen, fermentation regenerates NAD+ allowing glycolysis to continue. If we come back up here, we have glucose undergoing glycolysis, releasing ATP, and forming our pyruvate.
Here we're going to have our NADH. NADH will undergo fermentation, helping to regenerate NAD+. Remember, NAD+ can then oxidize glucose through glycolysis to make more pyruvate, right?
Again, this only occurs if oxygen is not present. If oxygen were present, then pyruvate would go through Acetyl CoA formation to make Acetyl CoA, proceed through stages 3 and 4 of catabolism to make NADH, FADH2, and more ATP. But again, this pathway is blocked to us. We can't go this way because there is no oxygen present for pyruvate to utilize in order to make Acetyl CoA.