NAD-dependent formate dehydrogenases are important in methylotrophic yeast and bacteria, being vital in the catabolism of C1 compounds such as methanol. The cytochrome-dependent enzymes are more important in anaerobic metabolism in prokaryotes. For example, in E. coli, the formate:ferricytochrome-b1 oxidoreductase is an intrinsic membrane protein with two subunits and is involved in anaerobic nitrate respiration.
NAD-dependent reaction
Formate + NAD  CO + NADH + H
Cytochrome-dependent reaction
Formate + 2 ferricytochrome b1  CO + 2 ferrocytochrome b1 + 2 H