Funky, old coolant concentrate?

In getting the CNC bed mill up and running right at work, I noticed the last guy ran it with no coolant. It has no provision for coolant, but I dredged up an old Kool Mist unit that hadn't been used in years. I cleaned it up, and found several gallons of 'new' concentrate, dated 2001! I've been using it, but it has a problem. Within a couple days of mixing it with water, it forms white globs that clog up the pick-up for the Kool Mist unit. No smell or anything, just funky white globs. It's so bad that I have to filter it (I use coffee filters). Doesn't matter; even after being filtered, the globs appear in a couple days, and I have to re-filter it. What is the stuff- Animal, vegetable, or mineral? Is it safe (health wise) to use? Is there anything I can add to it to keep it from getting funky? I could just throw it out, but then I'd have nothing. It's VERY hard to get them to buy anything, and they would never see the cause-and-effect of longer tool life. Thoughts?