The new Storagetech (P.V.R.V.) Pressure Vacuum Relieve Valve video shows where it is used and the cut away shows how it operates internally.
The Storagetech Model 100 Pressure Vacuum Relief Valve also known as a Pressure Vacuum Vent or Conservation Vent, is a safety device designed to protect storage tanks or pressure vessels against overpressure pressure or excessive vacuum and to reduce the evaporation of the tank contents to the atmosphere.