Lipolysis is the breakdown of lipids and involves hydrolysis of triglycerides into glycerol and free fatty acids. Predominantly occurring in adipose tissue, lipolysis is used to mobilize stored energy during fasting or exercise. 

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Ketogenesis : Under conditions of abundant glucose (and sufficient insulin sensitivity) the brain is primarily converting glucose to pyruvate that is then shuttled into the mitochondria and converted into acetyl CoA. Acetyl CoA (which is also a direct byproduct of fatty acid breakdown) is then combined with oxaloacetate and so begins the tricarboxylic acid cycle, which generates all the reducing agents to feed the electron transport chain and generate massive amounts of ATP.