The cell structure you are referring to is the mitochondrion (plural: mitochondria). Mitochondria are known as the "powerhouses" of the cell because they convert chemical energy from food into adenosine triphosphate (ATP), which is the energy currency of the cell. This process is known as cellular respiration, and it involves breaking down glucose and other nutrients to produce ATP, carbon dioxide, and water.
E. a cell structure that converts chemical energy stored in food into compounds for the cell to use
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