CoCreateInstance() returns E_OUTOFMEMORY

I am trying to use a program developed by someone else to interface
with a camera using the SDK. This program runs fine on a particular
laptop, but not on any other machines.

The code tries to initialize the camera object through a function
exposed through a .dll file.
    m_pVidControl = new CCameraCtl();
    m_pVidControl->Initialize(640,480); // Unhandled exception causes
crash
The program crashes on the second line, and by stepping in to the code
in the .dll, I found the error in the CoCreateInstance() function
call.
int CCameraCtl::Initialize(int width, int height)
{

    //init camera capture com
    HRESULT hresult;
    hresult = CoCreateInstance(CLSID_CDirectShowGrabber, NULL,
CLSCTX_INPROC_SERVER, IID_IFilter, (void **)&(m_pGrabber)); //
Returns out of memory error

        // Rest of function
}

The m_pGrabber has a valid address when it enters the Initialize()
function, but is again being reset to NULL after this line.
CoCreateInstance() is returning E_OUTOFMEMORY in hresult, and the
watch variable '@err,hr' displays a value of "0x000036b7 The requested
lookup key was not found in any active activation context".

I haven't used COM before and am unsure of how to diagnose the cause
of the problem. Any suggestions would be appreciated.

TIA,
Bala