UPDATE: Aleix Espargaro and Colin Edwards finished the day 15th and 16th fastest, 2.3 and 2.6s respectively from the top but a few tenths from the fastest Open class rider, Nicky Hayden on the new Honda Production Racer.

Espargaro was one-second behind the Tech 3 Yamaha YZR-M1 of his brother and MotoGP rookie Pol Espargaro.

This is the new 'Open class' privateer Yamaha, to be raced by Aleix Espargaro and Colin Edwards in the 2014 MotoGP World Championship.

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The bike, which was still being prepared on Monday's opening day of Valencia post-race testing, made its debut today (Tuesday).

The Forward Yamaha package, originally labelled as just an engine supply, will include the engine, frame and swing-arm, with FTR supplying the remaining components.

Unlike the factory Yamahas, at the official team and Tech 3, the Forward bikes must run the full control ECU system - hardware and software - allowing four extra litres of race fuel and twelve rather than five engines changes.

Espargaro arrives at the team as the reigning double CRT class champion with Aspar, while Edwards has extensive Yamaha experience, racing official YZR-M1s in MotoGP from 2005-2011.

Spaniard Espargaro was first to take to the track, setting the 14th fastest lap time (2.168s from Honda's world champion Marc Marquez) as of 2pm. Edwards then made his debut on the bike shortly after.

Testing concludes at 5pm, then continues on Wednesday.