Pan fry bacon in a large sauté pan set over medium heat. Cook until crispy. Remove the bacon from its drippings and chop into 1” pieces and set aside.

Meanwhile, bring the chicken broth to a simmer in a large saucepan over medium-low heat. Cover.

Heat 2 tbsp of butter, 2 tbsp of olive oil in heavy large pot over medium heat. Add onions and shallots. Sauté until mixture begins to soften, about 2 mins. Add rice and stir until it’s translucent at edges but still opaque in center, about 3 minutes. Add the white wine and simmer until the wine is absorbed, stirring occasionally, about 2-3 mins.

Add 1 cup of warm broth. Simmer until the broth is almost absorbed, stirring often, about 2-3 mins. Add 2 cups more broth, 1 cup at a time. Allow each cup to be absorbed before adding the next and stir frequently, about 6-8 mins.

Mix in the cubed butternut squash and thyme and 1 cup of broth. Simmer until broth is just absorbed, stirring often, about 5-7 mins. Add 2 cups more broth, 1 cup at a time. Allow each addition to be absorbed before adding the next and stir frequently.

Add ¼ cup of grated parmesan cheese, chopped maple bacon and 4 tbsp of butter (omit the butter if desired). Simmer until the butter melts and risotto is creamy, stirring often and adding more broth by 1/3 cupfuls if the risotto is dry or if it isn’t quite cooked. Test to make sure that the squash is fork-tender and that the rice is cooked to your liking. Season with salt & pepper.

Portion risotto into bowls or onto plates. Top with additional ¼ cup parmesan cheese.