"Foundation" will be the kernel we use for the main goal of this project - "Perfection". Since we are currently busy with our experimental kernel FirstStep, "Foundation" is dormant for now.
The name "Foundation" has been chosen because we see a good, efficient, and solid kernel to be the foundation on which an operating system is build. The quotation marks are there to indicate that we might opt to give the finished, release-quality kernel a different name. (But don't count on it, Foundation sounds good to us. :-) )