This is a 3-Way, 3-Piece, 1/2" Female NPT, 304 Stainless Steel Ball Valve. Three way valves can divert flow from one hose to another using only one valve, rather than multiple. The "L" Type design allows for a simple swing of the handle to switch ports, or center (all open). The handle can be detached and re-attached to configure for your personal setup. The handle and ball rotate 360° in the seat.
This valve is a great option for cleaning or draining your system. Can be used on the outlet of a pump to direct flow from your mash tun to boil kettle, or use as an air vent on your pump.