Fermentation starts with glycolysis.During this process, two NAD+ electron carriers are reduced.
. . . . .
NAD+
NAD+
-
After this, two NADH molecules and 2 net ATPs are produced.
NADH
ATPs
For repeating this process, NADH must be oxidized back so that glycolysis can continue, and cells can continue making 2 ATPs.
Two Atps Glycolysis NADH Oxidized back
It is important to mention that there are two types of fermentation: alcoholic fermentation and lactic acid fermentation.
Glucose
In alcoholic fermentation, glucose is split by glycolysis which produces two pyruvate molecules, which end producing two ATPs. If pyruvate continues being breaking it produces CO2 and eventually ethanol.
Pyruvate
Pyruvate
In lactic acid fermentation, two pyruvate and two ATP molecules result from glycolysis. After that the reduction of pyruvate using the electrons carried by NADH produces lactate.