Abstract: An apparatus for cutting thermoplastic foam material, such as polyethylene foam or rigid polystyrene foam, includes an electrically heated cutting element made from a steel band and having a sharpened front longitudinal edge and a rear longitudinal edge spaced from one another by a width dimension of the band which is many times greater than the thickness thereof. The opposite end portions of the cutting element are parallel and close to one another and are each releasably gripped by a separate set of jaws which engage the front and rear edges of each end portion to mechanically support and supply electric current to the respective end portions. Each set of jaws includes a stationary jaw and a movable jaw. The movable jaws are connected for operation by a single operating member for movement in unison relative to the stationary jaws to facilitate rapid insertion and removal of the cutting element from the jaws.