Hello professor. I'm sorry for the late response, assignments keep getting tough toward the end of the semester.
Anyway, this weekend I was finally able to go through all the ideas posted here and I found a couple of similar ideas beside the one you mentioned. I'm tagging them as inspirations, although our team decided to focus on the other ideas we have for this challenge. We finished our first prototypes and we'll share our findings soon.
One problem with this insulation idea is that we haven't figured out how to close the cycle in the design. As one collaborator "Aakar Mehra" mentioned in another post "Acoustic Panels" if we are able to manufacture this insulation the product would end up in the landfill at the end of its lifecycle. That's something that bothers us.