Magnet
Many materials have unpaired electron spins, and the majority of these materials are paramagnetic. When the spins interact with each other in such a way that the spins align spontaneously, the materials are called ferromagnetic (what is often loosely termed as magnetic). Because of the way their regular crystalline atomic structure causes their spins to interact, some metals are ferromagnetic when found in their natural states, as ores. These include iron ore (magnetite or lodestone), cobalt and nickel, as well as the rare earth metals gadolinium and dysprosium (when at a very low temperature). Such naturally occurring ferromagnets were used in the first experiments with magnetism. Technology has since expanded the availability of magnetic materials to include various man-made products, all based, however, on naturally magnetic elements.
Electropermanent magnet
An electropermanent magnet is a special configuration of magnetic materials where the external magnetic field can be turned on and off by applying a current pulse. The EPM is based on a common magnetic configuration called magnetic latch (right picture). A general example of this configuration assembly is built by a permanent magnet block with two plates of soft magnetic materials (generally iron alloys) on each side of the block. Those two plates exceed the dimensions of the permanent magnet. Because the plates had a higher permeability than the air, they will concentrate the magnetic flux of the permanent magnet. When a third (external) soft magnet plate is placed touching the other two plates, the magnetic flux will flow confined in the soft magnetic plates creating a closed magnetic circuit and the magnetic field produced by the magnet will be maximum (approximately the magnet remanence).
An EPM has at least two permanent magnets in between the plates. The magnetic field generated by the EPM is produced by the permanent magnets not by electric currents and this is the main difference with the electromagnets. An EPM uses only a pulse of current to magnetize one of the magnet in a desired direction (turning on and off the external magnetic field of the latch). After changing the direction of the magnet no current is needed and the field will return to depends on the permanent magnets.