In the present work the energy metabolic phenotype of adipocytes, CD34+ cells of the stromal vascular fraction as well as mesenchymal stem cells after in vitro cultivation and differentiation, from adipose tissue was characterized. Osteogenic differentiation of mesenchymal stem cells, with an increase of proliferation appeared along with an increasing metabolic capacity in general and an increased glycolytic metabolism in specific. Adipogenic differentiation with reduced proliferation potential was accompanied by an increased oxidative capacity, in particular the mitochondrial lipid oxidation.