A bistable valve (100) is provided according to an embodiment of the invention. The bistable valve (100) includes an armature (108) movable to selectively block and unblock at least a first port (104) and a biasing device (112) configured to provide a first biasing force that biases the armature (108) toward a first position blocking the first port (104). The bistable valve (100) further includes a plurality of substantially radially magnetized permanent magnets (114) configured to provide a second biasing force to the armature (108) substantially opposite to the first biasing force and an electromagnetic coil (116) configured to generate a third biasing force when energized with a first current polarity. The third biasing force is substantially opposite to the first biasing force and in combination with the second biasing force overcomes the first biasing force and moves the armature (108).