Glycolysis:
1. Glucose is converted into pyruvic acid.
2. It takes place in the presence or absence of oxygen.
3. Net gain is 2ATR
4. 2 NADH + H+ molecules are produced.
Fermentation:
1. Starts from pyruvic acid and is converted into alcohol or lactic acid.
2. It takes place in the absence of oxygen.
3. No net gain of ATP molecules.
4. 2 NADH + H+ molecules are utilised.