Abstract: A temperature controlled liquid dispenser having an insulated receptacle with improved ventilation characteristics; and having a novel dispensing valve. A novel valve is described which can be removed from the liquid dispenser and the portable container thereby eliminating the requirement of emptying the container before removing it from the dispenser, yet allowing removal of the valve from the container whereby the container can be capped and the valve used again.The receptacle is adapted to receive a portable liquid filled container which is temperature controlled by a thermo-electric device in contact with a heat conductive lining which engages a portion of the interior of the receptacle for heating or cooling the contents thereof. Heat insulation-filled receptacle channel portions extend downwardly from the main body of the receptacle on either side of heat exchange fins which are attached to and extend downwardly away from the thermo-electric device.