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In a large skillet over medium heat, melt the butter and olive oil together. Add in the onions and stir so they are coated in all the fat. Cook undisturbed for 5 minutes.
Stir and add in the salt, pepper, sugar and thyme. Stir, cover the pan with a lid and let cook. Stir occasionally until the onions are soft and deep golden in color. Reduce the heat if you notice the onions are browning too soon.
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Add in the beer, scrape any bits that accumulated on the bottom of the skillet, and then remove them off the heat.
On a preheated griddle or large skillet, place a slice of buttered bread (butter-side down) and top it with a little shredded smoked Gruyere. Add half of the onion mixture and then more of the cheese. Top with a second slice of buttered bread (butter-side up).
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