C# – COMException when creating COM object for Excel Automation in C#

I've got this error when I create a COM object in order to use Excel automation. Any one knows why I am getting this error?

System.Runtime.InteropServices.COMException(errorCode = -2146959355)
Message: Retrieving the COM class factory for component with CLSID {00024500-0000-0000-C000-000000000046} failed due to the following error: 80080005.

The call stack is following:

System.Runtime.Remoting.RemotingServices.AllocateUninitializedObject(RuntimeType objectType)
at System.Runtime.Remoting.RemotingServices.AllocateUninitializedObject(Type objectType)
at System.Runtime.Remoting.Activation.ActivationServices.CreateInstance(Type serverType)
at System.Runtime.Remoting.Activation.ActivationServices.IsCurrentContextOK(Type serverType, Object[] props, Boolean bNewObj)
at System.RuntimeTypeHandle.CreateInstance(RuntimeType type, Boolean publicOnly, Boolean noCheck, Boolean& canBeCached, RuntimeMethodHandle& ctor, Boolean& bNeedSecurityCheck)
at System.RuntimeType.CreateInstanceSlow(Boolean publicOnly, Boolean fillCache)
at System.RuntimeType.CreateInstanceImpl(Boolean publicOnly, Boolean skipVisibilityChecks, Boolean fillCache)
at System.Activator.CreateInstance(Type type, Boolean nonPublic)
at Geotab.ComObject..ctor(Type type)

This is my code:
Type excelAppType = Type.GetTypeFromProgID("Excel.Application");
comExcelObject = new ComObject(excelAppType);