Rip Regan, already some sort of freelance do-gooder is called to Chinatown by his former teacher Dr. Austin, one of the world’s greatest chemists.
Going there with his friend and sidekick ex-heavy weight boxer Punchy Bogart, Dr. Austin gives Rip a gift, a red and yellow outfit which he describes as being made of "A chemically treated metal that has been woven into a suit... it will make the wearer lighter than air, yet it is stronger than any metal on Earth... It is a POWER SUIT!!"
He then asks Rip to take down a criminal mastermind called The Skull that has been plaguing the city.
Thus begins the career of PowerMan.