The general features of a widely accepted mechanism for photoelectron transfer, in which two light reactions (light reaction I and light reaction II) occur during the transfer of electrons from water to carbon dioxide, were proposed by Robert Hill and Fay Bendall in 1960. This mechanism is based on the relative potential (in volts) of various cofactors of the electron-transfer chain to be oxidized or reduced. Molecules that in their oxidized form have the strongest affinity for electrons (i.e., are strong oxidizing agents) have a low relative potential. In contrast, molecules that in their oxidized form are difficult to reduce have a high relative potential once they have accepted electrons. The molecules with a low relative potential are considered to be strong oxidizing agents, and those with a high relative potential are considered to be strong reducing agents.

In diagrams that describe the light reaction stage of photosynthesis, the actual photochemical steps are typically represented by two vertical arrows. These arrows signify that the special pigments P₆₈₀ and P₇₀₀ receive light energy from the light-harvesting chlorophyll-protein molecules and are raised in energy from their ground state to excited states. In their excited state, these pigments are extremely strong reducing agents that quickly transfer electrons to the first acceptor. These first acceptors also are strong reducing agents and rapidly pass electrons to more stable carriers. In light reaction II, the first acceptor may be pheophytin, which is a molecule similar to chlorophyll that also has a strong reducing potential and quickly transfers electrons to the next acceptor. Special quinones are next in the series. These molecules are similar to plastoquinone; they receive electrons from pheophytin and pass them to the intermediate electron carriers, which include the plastoquinone pool and the cytochromes b and f associated in a complex with an iron-sulfur protein.

In light reaction I, electrons are passed on to iron-sulfur proteins in the lamellar membrane, after which the electrons flow to ferredoxin, a small water-soluble iron-sulfur protein. When NADP⁺ and a suitable enzyme are present, two ferredoxin molecules, carrying one electron each, transfer two electrons to NADP⁺, which picks up a proton (i.e., a hydrogen ion) and becomes NADPH.

Each time a P₆₈₀ or P₇₀₀ molecule gives up an electron, it returns to its ground (unexcited) state, but with a positive charge due to the loss of the electron. These positively charged ions are extremely strong oxidizing agents that remove an electron from a suitable donor. The P₆₈₀⁺ of light reaction II is capable of taking electrons from water in the presence of appropriate catalysts. There is good evidence that two or more manganese atoms complexed with protein are involved in this catalysis, taking four electrons from two water molecules (with release of four hydrogen ions). The manganese-protein complex gives up these electrons one at a time via an unidentified carrier to P₆₈₀⁺, reducing it to P₆₈₀. When manganese is selectively removed by chemical treatment, the thylakoids lose the capacity to oxidize water, but all other parts of the electron pathway remain intact.

In light reaction I, P₇₀₀⁺ recovers electrons from plastocyanin, which in turn receives them from intermediate carriers, including the plastoquinone pool and cytochrome b and cytochrome f molecules. The pool of intermediate carriers may receive electrons from water via light reaction II and the quinones. Transfer of electrons from water to ferredoxin via the two light reactions and intermediate carriers is called noncyclic electron flow. Alternatively, electrons may be transferred only by light reaction I, in which case they are recycled from ferredoxin back to the intermediate carriers. This process is called cyclic electron flow.

Evidence of two light reactions

Many lines of evidence support the concept of electron flow via two light reactions. An early study by American biochemist Robert Emerson employed the algae Chlorella, which was illuminated with red light alone, with blue light alone, and with red and blue light at the same time. Oxygen evolution was measured in each case. It was substantial with blue light alone but not with red light alone. With both red and blue light together, the amount of oxygen evolved far exceeded the sum of that seen with blue and red light alone. These experimental data pointed to the existence of two types of light reactions that, when operating in tandem, would yield the highest rate of oxygen evolution. It is now known that light reaction I can use light of a slightly longer wavelength than red (λ = 680 nm), while light reaction II requires light with a wavelength of 680 nm or shorter.

Since those early studies, the two light reactions have been separated in many ways, including separation of the membrane particles in which each reaction occurs. As discussed previously, lamellae can be disrupted mechanically into fragments that absorb light energy and break the bonds of water molecules (i.e., oxidize water) to produce oxygen, hydrogen ions, and electrons. These electrons can be transferred to ferredoxin, the final electron acceptor of the light stage. No transfer of electrons from water to ferredoxin occurs if the herbicide DCMU is present. The subsequent addition of certain reduced dyes (i.e., electron donors) restores the light reduction of NADP⁺ but without oxygen production, suggesting that light reaction I but not light reaction II is functioning. It is now known that DCMU blocks the transfer of electrons between the first quinone and the plastoquinone pool in light reaction II.

When treated with certain detergents, lamellae can be broken down into smaller particles capable of carrying out single light reactions. One type of particle can absorb light energy, oxidize water, and produce oxygen (light reaction II), but a special dye molecule must be supplied to accept the electrons. In the presence of electron donors, such as a reduced dye, a second type of lamellar particle can absorb light and transfer electrons from the electron donor to ferredoxin (light reaction I).