This study examines foamed geopolymer composites based on fly ash from the Skawina coal-fired power plant in Poland. The paper presents the effect of adding 3% and 5% by weight of glass wool waste on selected properties of foamed geopolymers. The scope of the tests carried out included density measurements, compressive and bending strength tests, measurements of the heat conduction coefficient, and the results of measurements of changes in thermal radiation in samples subjected to a temperature of 800 °C. The obtained results indicate that glass wool waste can be successfully used to lower the density and heat conduction coefficient of foamed geopolymer composites with a fly ash matrix. In addition, the results of changes in thermal radiation in the samples subjected to the temperature of 800 °C showed a positive effect of the addition of glass wool waste. Moreover, the introduction of the addition of glass wool waste made it possible to increase the compressive strength of the examined foamed geopolymers. For the material modified with 3% by weight of mineral wool, the increase in compressive strength was about 10%, and the increase in fibers in the amount of 5% by weight resulted in an increase of 20% concerning the base material. The obtained results seem promising for future applications. Such materials can be used in technical constructions as thermal insulation materials.