Recycling of The Machine Coolant

I would like to done the FYP (final year project) in my education. Then i think to do that the topic above.

In my collage having more CNC machine and konvensional machine. There use a many coolant during operation. Someday i get the idea that can we recycle that use coolant. oh, yes i can try first.

So i need an opinion from all how the best way to recycle the coolant?\

My flow chart is:

1 - Separate between cip material and coolant using the wire mesh filter.
2 - Get the clean coolant with filteration separation, but what the type of filter i need to use? any idea?

Hopefully i can get idea to settle this for my project.😁