I bet the coolant made for Toyota Prius engines and power inverters would be ideal for a CNC spindle motor. It only comes as a premix, and is only available from Zerex or Toyota. It's made with distilled and deionized water so it's completely non-conductive. What might be a strike against it is when it dries it makes pink crystals. That's a thing to check for on a 2nd generation Prius. Feel around below the water pump for pink crystals, which indicates a leak. Only belt driven thing on those. 3rd gen went to an electric water pump.
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