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Silver Racer is the Amalgam version of Marvel's Silver Surfer and DC's Black Racer.
The Silver Racer is an Asgod who serves as a sort of Grim Reaper to his fellow Asgods. He travels about on silver skis, propelled by his Cosmic Asgodian Power. Additionally, he was a one-time herald to Galactiac. He only takes the dead and does not interfere. When Galactiac come to Earth, June Masters talked him into helping save the Earth. The Silver Racer was able to help defeat Galactiac.
At one point, the Silver Racer lost his powers, his Cosmic Asgodian energy, to Doctor Doomsday, giving Dr. Doomsday the combined abilities (more or less) of Doctor Doom (Marvel), Doomsday (DC), the Silver Surfer (Marvel), and the Black Racer (DC), whose touch brings death.
It should be presumed that he regained his energy from the villain, probably with help from the Challengers of the Fantastic.