Aluminum/rigid polyurethane foam composite plates (ARCPs) are widely used for thermal insulation. The interface debonding generated during manufacturing degrades the thermal insulation performance of an ARCP. In this study, the debonding of an ARCP, a composite plate with a porous and damped layer of rigid polyurethane foam (RPUF), was detected using A0 mode Lamb wave electromagnetic acoustic transducers (EMATs). The low energy transmission coefficient at the interface caused by the large acoustic impedance difference between aluminum and RPUF made the detection difficult. Based on these structural characteristics, an A0 mode Lamb wave with large out-of-plane displacement was used to detect the debonding. EMATs are preferred for generating A0 mode Lamb waves due to their advantages of being noncontact, not requiring a coupling agent, and providing convenient detection. A finite element simulation model considering the damping of the RPUF layer, the damping of the PU film at the interface, and the bonding stiffness of the interface was established. The simulation results indicated that the Lamb wave energy in the aluminum plate transmits into the RPUF layer in small amounts. However, the transmitted energy rapidly attenuated and was not reflected into the aluminum plate, as the RPUF layer was thick and highly damped. Therefore, energy attenuation was evident and could be used to characterize the debonding. An approximately linear relationship between the amplitude of the received signals and the debonding length was obtained. Experiments were performed on an ARCP using EMATs, and the experimental results were in good agreement with the simulation results.