Elmax is generally a better steel in my opinion. Notice that Elmax has the same ratings as S45VN on the above chart. In theory, Elmax will be a little better on both edge retention and corrosion resistance. S35VN is tougher than Elmax but it's not like Elmax is hurting for toughness. Using the chart, Elmax is as tough as VG-10 or S30V, and tougher than a bunch of widely used blade steels including 440C, 154CM, N690, and M390.
Unfortunately, it gets more complicated than that. Remember that Larrin's chart is rating these steels based on an optimal heat treatment. That's not necessarily what you're going to get with production knives. This often shows in edge retention and how close a production knife gets to its ideal performance can vary a lot from company to company. They say this one will be made in Sweden. That could be a good thing but who knows? I wouldn't expect them to be terrible or anything. It's just worth tempering expectations a little between the chart's ratings and the real-world edge retention for production knives.
Now, there is a sizeable elephant in the room. I find the kick starter page a little messy and obtuse but it looks like the base model in S35VN is $125. It looks like the price doubles to $250 for Elmax. I'd ask if one in Elmax is better than two in S35VN, but there also seems to be a "buy two, get one free" on the base model... You'd need to figure out exactly how the upgrades and/or sales apply but it seems a little steep to me.
