A flying saucer hidden in a Red Chinese peasant village is sought by teams from the United States and U.S.S.R. On finding it, they band together to explore the saucer and take a trip into space.

Agent Sam Casey is in a satellite explosion and the radiation turns him invisible. He gets a watch that keeps him visible, and he uses it to switch from visible to invisible. He is assigned to transport a chemical called Tripolydine, which is purported to be the most efficient fuel; when the cover is blown on that and he uncovers and stops the Tripolydine fraud, he must then stop a terrorist from blowing up race cars.