The Calvin cycle or C3 cycle proceeds in three stages (1) carboxylation, during which CO2 combines with ribulose −1, 5-bisphosphate; (2) reduction, during which carbohydrate is formed at the expense of the photochemically made ATP (two molecules) and NADPH (two molecules) and (3) regeneration during which the CO2 acceptor ribulose-1, 5-bisphosphate is formed again so that the cycle continues. The regeneration step requires one ATP for phosphorylation to form RuBP