The firm is developing the new lens to enable the wearer to continuously adjust far, near and middle-vision, accommodating the individual’s own needs.

According to the firm, the proprietary lens-based technology is already fabricated for electronic focusing eyeglasses and ophthalmic diagnostic equipment.

It is also used in the development of augmented-reality head mounted displays for the US military.

Recently, E-vision completed a round of financing with its existing shareholder base to fund the development program.

The firm also received a grant from NASA’s National Space Biomedical Research Institute (NSBRI) to support the development of electronic eyeglasses to address the deterioration of vision that astronauts experience during space travel.

E-Vision said that it holds around 550 patents issued or pending across the globe to protect its intellectual property.

E-Vision president and CEO Joel Zychick said: "E-Vision is the leading developer of electrically-modulated lenses and the fully tunable electronic contact lens is the exciting next phase in our development.

"This will be the only flexible contact lens giving the end-user the ability to choose from a variety of prescription settings and to dynamically change focus while correcting for a variety of visual impairments, including myopia, hyperopia and higher order aberrations."