I would look into KoolRite products, I use their 2290 in my bandsaw coolant tank, had it in the tank for over a year without problems or stench. I also did not have a problem with rust, which I did have when I tried the Kool Mist. Purchased a gallon off of eBay, use at around a 7-10% dilution with water. You do need to add water as it evaporates over time. There are a few other similar products that are made for professional CNC machines and hold up very well over time. Been very happy with it, in particular not turning nasty after a few months. I will probably also use it in a mist/drip system if I start to machine stainless.
How to select metalworking coolants
www.koolrite.com
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