FordSVT said:
Stealth aircraft have been using advanced composites to help "absorb" incoming RADAR for decades now, but the same techniques don't work with the visual spectrum. You wouldn't want it to either, it wouldn't render the object "invisible", it would just make it very dark.
There have been some recent advancements in what are called "metamaterials". These would allow the object to "grab" the electromagnetic waves and divert them around the object (instead of just absorbing them), so that anyone standing in front of the object would simply see what is behind it and vice versa. This would be a "broad band" device not limited to any one spectrum. Another use for the technology would be to create the "perfect lens", better than any we've ever made for telescopes and scientific use.
Bear in mind the Star Trek technology uses a field of some kind to achieve the same effect.
http://www.imperial.ac.uk/P7837.htm