0x800702e4 Error in VB.NET application

I'm working on a project in Visual Studio 2010, running on my Windows 7 64 bit workstation. In that project, I've included a COM reference to a .exe file provided by a 3rd party. This .exe file provides an interface to a database (it's basically an SDK that accepts XML requests and provides responses). In order to use it, you write code like this:

Dim MyObj As New MyInterface.MyRequestProcessor

This is documented in the "guide" provided with the SDK (note: That "guide" is basically worthless, as is the "support" from the development team for the SDK).

The code above immediately errors out during a debug session with the following error:

System.Runtime.InteropServices.COMException (0x800702E4): Retrieving the COM class factory for component with CLSID {xxxx-xxxxxx-xxx} failed due to the following error: 800702e4 at Project.clsQuote.AddQuote() in C:\Users\MyName\documents\visual studio 2010\Projects\folderName\Subfolder\clsAddQuote.vb:line 217"

The error translates over to "requested operation requires elevated permissions".

I have turned OFF UAC on the machine, but the error persists. I've set the .exe file to run in Compatibility mode, and I've set it to run with Administrator Privileges. I've tried toggling the CopyLocal and Isolated properties of the reference.

The error persists regardless of what I do.

Am I missing something, or am I just out of luck with getting this to run on my machine?