In the current investigation, by using a very low mass flux co-axial laminar multiphase fluid jet, enhancement in heat transfer rate, uniformity in heat flux distribution, and reduction in coolant consumption rate characteristics are simultaneously tried to achieve in case of cooling from a very high initial temperature (900 °C). The information on quenching technology depicting all the above-mentioned advantages has not been reported in the literature. In the present work, kerosene–water, nanofluid (Al2O3 = 0.15%)–kerosene, and nanofluid (Al2O3 = 0.15%)–polyethylene glycol combinations were used for co-axial cooling experimentation. From the heat transfer analysis, it is observed that nanofluid (Al2O3 = 0.15%) and kerosene combination produces maximum critical heat flux due to the alteration of thermophysical and interfacial properties, which enhance the driving force and flow behavior defining momentum and thermal diffusivities in the favorable direction of heat transfer, respectively. In addition to the above, the comparative study ensures a significant reduction in coolant consumption and augmentation in uniformity in heat flux distribution.