Minutes after finishing sixth in his semifinal at Dorney Lake, the outspoken Fouhy said he was "disillusioned" and "disgusted" about the level of funding he has received from Sport New Zealand as he attempted to add an Olympic gold to the world title he won in 2003.
In an outburst that included some expletives, he also complained about being used a "political pawn."
However, he later said in a statement on his personal website that he had been caught up "in the heat of the moment."
"I do apologize for my language," the statement read. "I perhaps could have not said some things but when you are three minutes removed from your Olympic dream being over, it is not the best time to be talking to anyone."
The London Games is expected to be the last international competition for the 33-year-old Fouhy, who held the event's world-best time from 2006-11.
He won a silver medal in the Athens Games in 2004 and placed fourth in the Beijing Olympics four years ago.