A method and apparatus to increase the cooling rate of gas used in a batch annealing furnace of cold rolling mills under bypass cooling. The invention makes use of the higher heat transfer capacities of nanocoolants developed by a high-shear mixing of nanoparticles and stabilizers in a basic aqueous medium for cooling heated hydrogen flowing through a heat exchanger during bypass cooling of the batch annealing furnace. The nanofluid is prepared in a nanofluid preparation unit.