Fin Fang Foom was one of the Makluans who crashed to Earth in the same ship that the Mandarin acquired his rings from. However, he was sleeping when the Mandarin arrived and failed to stop the Mandarin from acquiring the power gems. Foom agreed to a limited partnership when he found himself unable to retrieve the gems from the Mandarin by force. However this partnership was destined to fail when the other Makluans who came to Earth decided they were ready to leave. Foom called in the favor Mandarin owed him and opened a portal to his homeworld. The Mandarin fought back when he realized what the Makluans really wanted and the portal was sealed with the invading Makluans banished to their homeworld.
Foom had access to the remains of his crashed ship and was able to utilized the Makluan technology contianed within.