Error from .net exe [Retrieving the COM class factory for component with CLSID]

[mihironline]

We have a scheduled job, which runs at every 5 min.

As first step of this job, we are executing a stored proc. Inside
stored proc, we have following line of code

insert #exeResult EXEC master..xp_cmdshell @cmd -- where @cmd is an exe
[I have checked the path and it's valid]

While this is executed, we have following error message logged in
errorlog.

Retrieving the COM class factory for component with CLSID
{00024500-0000-0000-C000-000000000046} failed due to the following
error: 80070005. at ESGVerifyImport.VerifyImport.ImportAudit()

00024500-0000-0000-C000-000000000046 is class id for Microsoft Excel
component and we are instantiating excel component in code, where it
fails.

However, if I double click on .exe file, it's executed successfully
without any error.

When stored proc is executed from the job, it runs under the user
account, which is administrator.

Any clue? Any help? Badly needed.