I have a sample piece. It looks like a piece of styrofoam. Like from a beach cooler, ice chest.
But, it is very fine texture, not spongy, quite rigid. I swear it weighs less, too.
Makes a lot of high pitched "squeaking" (above 15KHz) as you handle it. Similar to the sound made when you touch fabric.
I've heard, not tried, that the thermal mass is so low that you can put a blow torch on the back side, heat to glowing red, and put your hand on it, and only be uncomfortable for a second.
My guess is a "foamed" ceramic. Don't know if special captured gas, though.
- Robert -