Ace is a boy who came from a medallion discovered by Dr. Tatsunoko and his daughter Asari. With his flying silver ring used as an aircraft and a weapon, he is able to go on missions in order to protect Earth from threatening alien invaders.     SPACE ACE was a young boy. Only his face was visible when he was in his uniform. He had ear-caps and an asymmetrical &lsquo;v&rsquo; perched on his forehead like a sort of lightning-bolt emblem. He was of course an alien, and was given to homesick stargazing with the faces of his loved ones ghosted across the heavens.     Chubby Ace&rsquo;s tool of preference was the Galaxy Ring, a flat white hoop that he could produce from his fingers to be thrown (&aacute; la Oddjob&rsquo;s bowler hat) or ridden on (&aacute; la Monkey&rsquo;s cloud). He was also very strong and a very good fighter as well.    -ANN and http://anime.wikia.com/wiki/Space_Ace/Space_Ace       

Dr. Tatsunoko of Tatsunoko Research Center goes undersea accompanied by his daughter Asari to inquire into some mysterious radiation and discovers there a giant shell and it is known that the radiation comes from a globe laid inside the shell. Then Asari finds an object in the shape of compact with a message in it. It says that a space alien from the Planet of Parlum which is on the verge of extinction is lying in the globe. Suddenly a boy with a strange look appears out of the globe and goes wild. He is the very person mentioned in the message with the name of Ace. His source of energy for superhuman power is what is called space food and he can fly with the help of Silver Ring made with energy collected instantly in the aerial environment. Also he is able to use it as a weapon to fight the enemy with. Supported by his friends including Asari, Ibo the robot dog, and Hermit Crab Reporter, he gallantly goes into action to settle various difficulties caused by mystic robots and brutal space invaders.

The excessive adventure begins when a mysterious flying life-form, UBO came to "Tatsunoko Anime World Island" where all the Tatsunoko animation characters live. TV special animation program featuring all-star Tatsunoko characters.<br>
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(Source: Official Website)