He is an adolescent version of Kang the Conqueror, armed with a bio-metal suit that responds to mental commands. He is responsible for assembling the Young Avengers.
In the year 3016, Nathaniel Richards is rescued by his future self before a lethal attack by bullies, a key event in his path toward villainy. Nathan is given new armor and a glimpse of his life as Kang the Conqueror. As a result he turns against his future self and uses the armor to travel to modern day Earth (616 reality) to change his destiny.
After finding a destroyed Avengers Mansion (caused by an insane Scarlet Witch) and failing to travel further back in time, he finds the remains of Vision. Linking with the Visions systems he downloads all of his programs including a failsafe plan to assemble a new team of Avengers pending the destruction or disbanding of the original team. Young Kang assembles the Young Avengers and models his armor after Iron Man calling himself Iron Lad.
Eventually Kang returns to the present in search of Iron Lad with the intent on putting him back in his own time to prevent further disruption in the "time stream". He battles the Young Avengers and quickly gains the advantage until Iron Lad stabs him through the back with a sword. The death of future Kang caused further disruption of reality, Iron Lad realized that he must accept his future as Kang the Conqueror to reverse the reality disruptions. Before his return to 3016, his mind is wiped clean and his armor removed.
The Young Avengers lost a member in young Kang, but gained a new one via his armor. His Iron Lad armor fuses with Vision's programing creating a new Vision who joins the team. Like young Kang, the new Vision has feelings for Cassandra Lang