From the DARPA ( Defense Advanced Research Projects Agency) site: DARPA RGPNET Armor Article
The goal of the Rocket Propelled Grenade (RPG) Nets program is to use special high-capability nets to dud, break or otherwise disable rocket propelled grenades (RPGs). The defined net systems will be tested in an extensive live fire program and incorporated into defensive systems currently under development as a low-cost, low collateral damage RPG defense mechanism.
Here is a link to the manufacturers concept demonstration video:
RPGNETS Concept Demonstration Video