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Preheat oven to 400 degrees F and move oven rack to top rung.
Half red peppers, take out the seeds, and stem. Place skin side up on a rimmed baking sheet.
Roast for 30-40 minutes until blackened (check after 20).
Remove from the oven and immediately cover the pan in foil. Steam for 10 minutes.
Uncover and let the pepper cool. Once cool enough to handle, remove the stem and peel the skin. Set aside.
Add oil and butter in a large pot and heat over medium. Once the butter has melted, add in onions and cook until softened, about 5-7 minutes.
Add in garlic and let cook for 30 seconds.
Add in the white wine and cook until most of the wine has been absorbed - 1 minutes.
Now add in red peppers (there was some liquid in the bowl - add that too), chicken broth, bay leaf, thyme, and cayenne.
Bring heat to high, bring to a boil. Cover. Reduce heat. Simmer for 5 minutes.
Remove bay leaf.
Blend until smooth and season with salt.