New polyols have been obtained in reactions of N,N,N’,N’-tetrakis(2-hydroxyethyl)-derivatives of oxamide, esterified with boric acid (BA), with the excess of ethylene carbonate (EC). The preparation conditions of polyols and next the production of polyurethane foams with the use of these new polyols have been presented. The foaming process parameters as well as the testing of the foam properties have been given. The structure modification of the polyurethane foams by means of oxamide and borate groups resulted in high thermal stability and thermal resistance, dimensional stability, compressive strength as well as the reduced flammability.