Fatal error: Out of memory

Get this error on start of On time backup:

Warning: file_get_contents(/homepages/22/d395850660/htdocs/logs/traffic.html/.md5sums) [function.file-get-contents]: failed to open stream: Permission denied in /homepages/22/d395850660/htdocs/wp-content/plugins/wp-google-drive/class/zip-class.php on line 28

Fatal error: Out of memory (allocated 29360128) (tried to allocate 166663166 bytes) in /homepages/22/d395850660/htdocs/wp-content/plugins/wp-google-drive/class/zip-class.php on line 28

My google drive is empty and all settings according to “Installation” part.
What’s wrong ?

http://wordpress.org/extend/plugins/wp-google-drive/