If you're talking about the thick foam sandwitched between corrogated sheet metal, I'm not sure.
Festool does appear to offer a foam blade for the sword saw. I presume chains msy be available from other brands as well.
Trumpf, a company whose specialty is tools for sheet metal, manufactures a chainsaw type panel saw, specifically for cutting foam insulated metal panels. There is a large difference in cutting speed between the two saws. The Trumpf saw cuts at 4m/min. the festool is listed as an idling speed if 10.6m/s. I'm not sure if one of these numbers is way off, ir whether the saws operate at vastly different speeds. The cutting speeds at which the chain goes thru the material mught make a difference in whether you can cut the material. Metal cutting is usually best done at a lower speed, especially gor certain alloys. The Festool does appesr to offer different speeds.