CAM photosynthesis is also found in aquatic species in at least 4 genera, including: Isoetes, Crassula, Littorella, Sagittaria, and possibly Vallisneria, being found in a variety of species e.g. Isoetes howellii, Crassula aquatica.
These plants follow the same nocturnal acid accumulation and daytime deacidification as terrestrial CAM species. However, the reason for CAM in aquatic plants is not due to a lack of available water, but a limited supply of .  is limited due to slow diffusion in water, 10000x slower than in air. The problem is especially acute under acid pH, where the only inorganic carbon species present is , with no available bicarbonate or carbonate supply.
Aquatic CAM plants capture carbon at night when it is abundant due to a lack of competition from other photosynthetic organisms. This also results in lowered photorespiration due to less photosynthetically generated oxygen.
Aquatic CAM is most marked in the summer months when there is increased competition for , compared to the winter months. However, in the winter months CAM still has a significant role.