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Step 1
Line a baking sheet with parchment paper and set aside.
Step 2
Pour water and sugar in a non-stick pan with a heavy bottom and bring to boil until 245°F (118°C), using a cooking thermometer to measure properly.
Step 3
Lower the heat and add whole hazelnuts and almonds at once, stirring constantly with a wooden spatula. At first, sugar will become white and coat the nuts, and while continuing stirring it will progressively turn into a caramel. This takes about 15-20 minutes.
Step 4
Once the nuts are caramelized, transfer to the prepared baking sheet in en even layer and let cool completely.
Step 5
Gently break down the nut pieces, place into a strong food processor and pulse. At first you will obtain a thin, sandy texture. Continue pulsing until it tuns into a paste, about 15 minutes.
Step 6
Pour into one or two jars, and serve onto crepes, pancakes, waffles, or simply with a spoon!