Prepare waffle iron. Preheat oven to 200 degrees ( for warming)
Whisk flour, malted-milk powder, baking powder, baking soda and salt in a mixing bowl. Whisk egg yolk, buttermilk, oil and vanilla in a medium bowl. Whisk into dry ingredients.
Beat egg whites in a clean bowl until soft peaks form. Gradually add sugar, beating until glossy but not dry. Whisk one quarter of the beaten whites into the batter and then fold remaining whites into batter.
Serve with favorite toppings! I prefer real maple syrup and butter.