Heat olive oil in a large saucepan over medium-high heat. Stir in eschalot and cook for 30 seconds then add shiitake and button mushrooms; cook until they begin to brown. Stir in 2 tablespoons butter and Arborio until rice is well coated in oil; reduce heat to medium and cook until the eschalot and mushrooms have turned golden brown.
Pour in white wine and simmer until evaporated; stirring constantly. Season with thyme, celery salt, salt and pepper. Reduce heat to medium-low; pour in 1/3 of the hot vegetable stock and cook until evaporated stirring constantly; about 7 minutes.
Pour in another third of the vegetable stock and continue to stir until evaporated. Repeat once more with the remaining third of stock. Stir constantly until the rice is tender and creamy. Add hot water if needed to continue cooking until the rice has softened.
Stir in butter, Parmesan cheese and diced parsley before serving.
This recipe is perfect. Easy and delicious. I was too lazy too get out and buy more ingredients, so I just used shiitake mushrooms and sake (azuma mirim) instead of white wine. Also used onions and garlic instead of eschalot and white rice instead of Arborio. Even with all this changes it was great. Really a foolproof and forgiving recipe.
Just one correction: it serves 3, because people want to help themselves twice. - 17 Feb 2013