Bring the water and broth to a boil in a heavy-bottom saucepan. As soon as the mixture boils, add the corn grits. Whisk vigorously until the mixture starts to thicken. Reduce the heat to medium and gently simmer the polenta, stirring frequently, for 15 minutes until it is thick and al dente. Add the salt, butternut squash puree, parmesan, crème fraîche, salt and black pepper. Stir well until well incorporated. Remove from heat and keep warm.
Heat a large heavy-bottomed skillet over high heat. Add the oil, garlic and both paprikas. Sauté for 30 seconds to 1 minute until the garlic softens, but doesn’t brown. Add the spinach and salt and toss until just wilted. Remove from heat and transfer to a bowl.
Spoon the polenta into bowls. Top with the wilted spinach and spoonful of the juices. Drizzle with the pumpkin seed oil and serve immediately.