The only biochemically characterized member of the GHRC subfamily – enzyme from a methylotroph Methylobacterium extorquens (DHGY_METEA) was shown to reduce hydroxypyruvate and glyoxylate, and to catalyze the reverse reaction with glycerate. It was proposed to play a central role in the assimilation of carbon in methylotrophs as it converts hydroxypyruvate to glycerate (a key step in the serine cycle). The enzyme was shown to utilize both NADH and NADP as the cofactor. However, it is not known to what extent the characteristics of this enzyme apply to other members of this subfamily.