Earth-20080502

The New Marvel Cinematic Universe is a remake of the original MCU, and began with Phase One in 2008.

Phase One

 * Iron Man (2008)
 * The Incredible Hulk (2008)
 * Iron Man 2 (2010)
 * Thor (2011)
 * Captain America: The First Avenger  (2011)
 * The Avengers (2012)

Phase Two

 * Iron Man 3 (2013)

History
Tony Stark is attacked and kidnapped by the Ten Rings after demonstrating his new "Jericho" missile in China, where they demand he builds them the missile, and release Dr. Yinsen from his empty prison room to work as Stark's assistant. Instead, they build a very strong but crude power suit, powered by a miniature Arc Reactor also meant to power Stark's chest "electromagnet" that protects him from the shrapnel in his chest. Dr. Yinsen is killed in the ensuing escape attempt, but Stark gets away and is picked up by the army. Upon returning to the United States, Stark declares that Stark Industries will no longer manufacture weapons, a move which his business partner Obadiah Stane tells him is blocked by the board members shortly after.

During his self-imposed sabbatical from public life, Stark tinkers with the design of his power suit, refining it to be capable of flight and other abilities, and builds a more powerful and reliable arc reactor, both to power his pacemaker and the suit. During his first public appearance since his kidnapping, he is shown pictures of Stark Industries weapons in the hands of terrorist groups, including the system he refused to build for them. He also discovers that Stane has been "dealing under the table" to both sides in the conflict, as well as being the one to shut Stark out of the board while he recovers. Faced with the realization of what his company has done, Stark dons the power suit and flies to an office building to stop terrorists and destroys his stolen weapons used by them.

In intentions to fix his mistakes, Stark sends his assistant Pepper Potts to find the shipping records of Stark Industries, so he can track down the illicit shipments and destroy them. When hacking into the system she discovers it was the "dealing" Stane who hired the Ten Rings to kill Stark but they reneged.

She also discovers that Stane has recovered the power suit prototype (having betrayed the Mandarin), and has reverse engineered his own version before Stane has stolen Stark's arc reactor to power it. Using his first reactor, which was not designed to power the suit, Stark battles with Stane in Los Angeles, defeating him when the larger arc reactor that powers Stark Industries is deliberately overloaded. Because Stark's reactor is nearly drained, he is protected from the EMP and survives.

The film ends with a press conference about the battle. Although advised by an agent of S.H.I.E.L.D. to claim Iron Man is his personal bodyguard, Tony Stark instead announces that he is Iron Man. After the closing credits, Stark is greeted by General Nick Fury, director of S.H.I.E.L.D., who tells him about the Avenger Initiative.