A mathematical model for the kinetics of substrate utilization and glycerol production during anaerobic batch fermentation of molasses and Akalona hydrolyzate, as a waste material, was developed. The kinetic study covered also glucose as a standard substrate for the yeast Saccharomyces cerevisae which is to be used in the course of the reaction. It was found that substrate utilization follows first order kinetics with a rate constant k equal to 0.0192, 0.0119 and 0.0085 for glucose, molasses and Akalona hydrolyzate, respectively. A new model was investigated to estimate the specific glycerol production rate during the exponential phase only, which is independent of substrate utilization rate and the specific growth rate of the microbial cells. Thus, it simplified the calculation of the kinetic parameters. The new model was found to simulate glycerol production from the three substrates very well. Also, the kinetic model for glycerol production was tested and the kinetic parameters were calculated.