Oxidative phosphorylation
1. Reduced NAD and FAD are oxidised in the protein complexes that span the IMM (inner mitochondrial membrane) releasing protons
2. The electrons move down the electron transport chain (through oxidation reduction reactions) coupled with the pumping of protons into the inter membrane space building a gradient
3. Protons move through the ATP synthase which forms ATP
4. Oxygen acts as the proton acceptor at the end of the electron transport chain forming water